EDP, a renewable energy power producer, through its 71.3% owned subsidiary EDP Renováveis (EDPR), has entered into a sale and purchase agreement with Prosolia Energy, an independent power producer, to sell a 100% equity stake in a portfolio of solar projects totaling 190 MWac (229 MWdc). The deal is estimated to have an enterprise value of €0.16 billion (~$0.18 billion).

The portfolio, comprising five operating solar projects, is located across the regions of Andalucía and Castilla y León in Spain. These projects, with an average asset life of less than one year, have long-term power purchase agreements.

The transaction is subject to regulatory approvals and other usual conditions, with closing expected during 2025.

With this deal, EDPR has already secured approximately €0.8 billion (~$0.92 billion) of the nearly €2 billion (~$2.3 billion) asset rotation proceeds target for 2025.

In addition, the company has also acquired 16 solar projects from Tangipar Group, a solar energy company in Brazil, in November 2024. The projects located in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná have a total capacity of 44.3 MW.

Earlier in January, EDPR announced the signing of a sale and purchase agreement with a global energy company to sell a 49% equity stake of class B shares in an operational solar portfolio comprising two projects totaling 300 MWac (406 MWdc) and a 92 MW electricity storage project. The projects are located in California.

According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.

Earlier this week, ENCAVIS, a solar and wind project developer, announced the acquisition of a 199 MW solar and wind project portfolio located approximately 40 km outside Zaragoza, in the Aragon region of Spain, from BayWa r.e., a renewable energy project developer.