Press Release 21/2024
July 5, 2024The proposed acquisitionThe Portuguese Competition Authority (AdC) has decided not to oppose the acquisition by EDPR PT – Promoção e Operação, S.A., a company of the EDP Group, of the exclusive control over EDPR PT – Parques Eólicos, S.A.EDPR PT – Parques Eólicos operates 12 wind farms with a total capacity of 422 MW.EDPR PT - Promoção e Operação, develops activities in the area of electrical energy production using renewable energy sources worldwide, ultimately owned by EDP – Energias de Portugal, S.A., the holding company of a vertically integrated group, active in the production, distribution and supply of electricity and the supply of natural gas in several geographies, such as Portugal, Spain, Brazil and the United States of America.Previously, the EDP Group controlled EDPR PT – Parques Eólicos jointly with another entity.



The commimtmentsThe AdC had concerns that, following the acquisition, the EDP Group might use the wind farms to maximize its own profits by limiting energy production to increase prices in the ancillary services market, where it already holds a significant market share.In response to these concerns, the EDP Group has committed to maximizing energy production and not using the wind farms strategically to influence the ancillary services markets. The commitments will be monitored by a Monitoring Trustee approved by the AdC and are time-limited.The AdC may reassess these commitments in the future, especially if there are changes in the integration of European system services markets. If, after this period, competitive concerns persist, the AdC may require the EDP Group to sell these wind farms to third parties.The Portuguese energy sectoral regulator ERSE was consulted and agrees with the measures.

Portuguese Competition Authority Approves EDP's Exclusive Control of Wind Farms

The Portuguese Competition Authority (AdC) has approved the acquisition by EDPR PT – Promoção e Operação, S.A., a company of the EDP Group, of the exclusive control over EDPR PT – Parques Eólicos, S.A., which operates 12 wind farms with a total capacity of 422 MW.

    The AdC had concerns that EDP Group might restrict energy production post-acquisition to manipulate prices in the ancillary services market. To address this, EDP committed to maximizing energy production and not using the wind farms strategically to influence markets. The commitments will be overseen by a Monitoring Trustee and are time-limited.

    If competitive concerns persist in the future, especially due to changes in European system services markets integration, AdC may require EDP Group to divest these wind farms. The Portuguese energy regulator ERSE supports these measures.



AdC approves acquisition of exclusive control of wind farms, following EDP commitments
AdC approves acquisition of exclusive control of wind farms, following EDP commitments

Portuguese Competition Authority Approves EDP's Exclusive Control of Wind Farms

The Portuguese Competition Authority has greenlighted EDP's acquisition of exclusive control over 12 wind farms, subject to commitments to prevent anti-competitive behavior.