Tax Equity deal for $84 million

EDP Renováveis, S.A. ("EDPR") was awarded 20-year long term contracts at the Italian wind auction to sell electricity to be produced by 6 wind farms with a total capacity of 127 MW. The wind farm projects are located in the south of Italy, with installation expected to occur in 2018.

EDP Renováveis, S.A. ("EDPR") informs that, following EDPR's Annual Shareholders Meeting held on April 14th 2016, Francisco Seixas da Costa has formally accepted his election as a member of the Board of Directors.

EDP Renováveis, S.A. ("EDPR"), through its fully owned subsidiary EDP Renewables North America LLC, has completed a $343 million funding of tax equity financing from Bank of America Merrill Lynch and Bank of New York Mellon (already announced in Sep-16), in exchange for an interest in the 250 MW Hidalgo wind farm, located in the State of Texas, and for an interest in the 78 MW Jericho Rise wind farm, located in the State of New York.