Ares Management Acquires 49% Stake in $2.9 Billion U.S. Renewable Energy Portfolio from EDPR
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Ares Management Corporation has acquired a 49% stake in a diversified U.S. renewable energy portfolio from EDP Renováveis, S.A. The portfolio, valued at approximately $2.9 billion, includes 10 assets with a total capacity of 1,632 MW, featuring solar, wind, and storage projects across four U.S. power markets. All projects are backed by long-term Power Purchase Agreements with an average remaining term of 18 years.
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