Jones Day advising funds managed by Macquarie Infrastructure and Real Assets (Europe) Limited in a transaction with EDP involving Viesgo

Jones Day is representing certain funds managed by Macquarie Infrastructure and Real Assets (Europe) Limited in connection with a transaction involving Viesgo.

Viesgo is key component of the Iberian electricity market – owning and operating 31,411 kilometres of regulated electricity distribution networks in Northern Spain, approximately 500 MW of renewable energy generation capacity in Spain and Portugal, and 913 MW of soon to be decommissioned thermal coal generation capacity in Spain.

Macquarie has entered into an agreement with EDP that will result in Viesgo significantly increasing the size of electricity distribution network assets under its control. As part of the agreement, EDP will acquire a 75.1 per cent interest in Viesgo, including the interest currently owned by Macquarie European Infrastructure Fund 4. Macquarie Super Core Infrastructure Fund will retain the remaining 24.9 per cent. EDP will also contribute E-Redes, its adjacent 20,766 kilometre electricity distribution network, to Viesgo. Viesgo will sell its renewable energy portfolio to EDP Renováveis and thermal coal assets to EDP.