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EDP finalizes its takeover bid for EDP Brasil

EDP simplifies its corporate structure by increasing its stake in EDP - Energias do Brasil S.A. to 88%, marking an important step in the deployment of its strategy and strengthening its position in the Brazilian market. The Group aims to invest 3.5 billion euros in Brazil up to 2026 to achieve 100% renewable energy by 2030, in line with its trajectory towards a sustainable energy transition.

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This operation represents an important step in the unfolding of EDP’s strategy, simplifying its structure and providing greater flexibility in the field.

EDP simplifies its corporate structure by increasing its stake in EDP Brasil

EDP will increase its shareholding in EDP – Energias do Brasil S.A. from 32% to 88% following the auction of the company’s public share offer held on July 12, 2023. The mandatory acceptance quorum having been reached, steps will now be taken to delist EDP Brasil from the B3 segment of the Brazilian stock exchange – the ordinary shares issued by EDP Brasil will now be traded on the B3 basic segment until their effective delisting.

“This transaction marks an important step in the deployment of our strategy unveiled at this year’s Capital Markets Day. It will enable us to simplify our corporate structure, and create and capture more value through a more integrated Group presence in the Brazilian market”, says Miguel Stilwell d’Andrade, CEO of the EDP Group.

EDP targets 100% renewable energy in Brazil by 2030 with a 3.5 billion euro investment

This tender offer and delisting from B3 are part of the Group’s strategy to accelerate and strengthen EDP’s position in Brazil, a key market in which the Group will invest 3.5 billion euros until 2026, by strengthening its networks, developing its renewable energy portfolio and providing its customers with competitive and innovative solutions.

EDP’s 2023-2026 business plan targets a gross investment of €25 billion worldwide, 85% of which in renewable energies and 15% in power grids, reinforcing the Group’s leading position in the energy transition.

Operating in 4 strategic clusters (Latin America, Europe, North America and Asia-Pacific), the Group plans to deploy 4.5 GW of renewable energies per year. Reiterating its commitment to be coal-free by 2025 and to produce 100% renewable energy by 2030. As well as a target of zero net emissions by 2040 (approved by SBTi).

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