Orrick Advises EDP Renewables in Partnership with Ares on $2.9 Billion U.S. Energy Portfolio

Orrick represented EDP Renewables (EDPR) in the sale of a 49% stake in a diversified U.S. energy portfolio to a fund managed by Ares Management Corporation. The transaction includes 10 assets totaling 1,632 MW of capacity-comprising 1,030 MW of solar, 402 MW of wind and 200 MW of storage capacity across four U.S. power markets. The total estimated value of 100% of the portfolio is approximately $2.9 billion.

THE COMPANY

EDPR is a global leader in renewable energy development with a presence in North America, Europe, South America and Asia Pacific. The company manages a portfolio of onshore wind, distributed and large-scale solar, offshore wind, hybridization, storage and green hydrogen projects, with 16.5 GW deployed and a €12 billion investment plan through 2026.

THE IMPACT

The partnership combines EDPR's development and operational experience with Ares' strong track record in investing in essential, high-quality infrastructure assets, allowing both parties to leverage their complementary strengths for greater value creation.

THE TEAM

Orrick's Amy Padgett and Brad Gathright led the team that advised EDPR. The team also included Wolf Pohl, Bart Kempf, Bob Loeb, Harry Clark, Tom Kidera, Craig Falls, Lauren Buehler, Danielle Mangogna, Zach Huey, Chelsea Munoz Patchen, Rebekah Gryder, Michael Vance, Cacique Rich-Martinez, Andres Vega and Gavin McGimpsey.

LEARN MORE

• EDPR's news release
• Read More Orrick Client Results