Brief: EDP's Ocean Winds Jv Has Agreed To Settle Imminent Claims Regarding Us Offshore Leases

Edp Renewables SA

28/04/2026 06:08

April 28 (Reuters) - EDP SA EDP.LS:

SAID ON TUESDAY, ITS 50/50 OCEAN WINDS JV WITH ENGIE ENGIE.PA HAS AGREED TO SETTLE IMMINENT CLAIMS REGARDING US OFFSHORE LEASES OF BLUEPOINT WIND AND GOLDEN STATE WIND

SETTLEMENT INVOLVES REIMBURSEMENT OF AMOUNTS PREVIOUSLY PAID FOR LEASES’ ACQUISITION, CONTINGENT UPON REINVESTMENT OF EQUIVALENT AMOUNTS IN OTHER ENERGY PROJECTS ALIGNED WITH THE CURRENT ADMINISTRATION OF USA’S PRIORITIES

REIMBURSEMENT AMOUNT ATTRIBUTABLE TO EDPR EDPR.LS IS $0.2 BILLION, IN LINE WITH CURRENT BOOK VALUE OF THESE PROJECTS

PROCEEDS ARE EXPECTED TO BE RECEIVED AFTER FULFILMENT OF CONDITIONS PRECEDENT WHICH IS ANTICIPATED TO HAPPEN DURING 2026

USA REMAINS EDP’S MAIN MARKET, REPRESENTING ABOUT 35% OF THE 12 BILLION EURO INVESTMENT PLAN FOR 2026-2028, WITH INCREASING VISIBILITY ON SECURING NEW CAPACITY BEYOND 2028

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