Acquisition by Energias de Portugal (EDP) of the French wind energy operator and developer Eole 76

EDP, the listed Portuguese electricity group and 4th global player in the renewable energy sector, acquired the French wind energy company Eole 76.

Calyon acted as Sole financial adviser to EDP and its renewable energy units, EDP Renováveis and NEO Energia, for that transaction.

The transaction includes 3 wind farms in operation in the Normandy region, with an installed capacity of 35 MW, and several wind farm projects under development, mostly located in the Normandy and Rhônes-Alpes regions and representing a total capacity of 560 MW. Out of these projects under development, 8 MW are under construction, 12.5 MW have already all the necessary authorizations to start construction and are expected to enter into operation between 2009 and 2010, while construction licenses have already been submitted for another 43 MW. The company founder, Vincent Oget, will remain responsible for the development of these projects and will join, with all his team, the existing French wind energy subsidiary of EDP Renováveis. With this transaction, EDP becomes the third wind farms player in France in terms of installed capacity (122 MW).

The transaction amounted to a total cash consideration of EUR 95 million (Enterprise Value). Additional success fees will be paid for every wind farm construction authorization obtained by the end of 2013.

After the "La Compagnie du Vent" deal closed at the end of last year, the Eole 76 transaction enables Calyon to enhance its franchise within the dynamic renewable energy sector and its position as one of the key financial advisers in the sector.

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