Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that a fund managed by the Ares Infrastructure Opportunities strategy (the “Ares fund”) has acquired a 49% stake in a portfolio of assets from EDP Renováveis, S.A. (“EDPR”), a leading global developer, owner and operator of renewable energy infrastructure. The total estimated enterprise value for 100% of the portfolio amounts to approximately $2.9 billion.

The transaction comprises a diversified portfolio of 10 assets that aggregates to 1,632 MW of capacity, including 1,030 MW of solar, 402 MW of wind and 200 MW of storage capacity across four U.S. power markets. All projects have long-term Power Purchase Agreements, with an average remaining contract duration of 18 years.

“We are excited to be partnering with EDPR on this highly contracted, attractive portfolio,” said Steve Porto, Partner in the Ares Infrastructure Opportunities strategy. “As we continue to provide capital to support the buildout of high-quality infrastructure assets, this investment presents a compelling opportunity to further diversify Ares’ presence across key domestic power markets and growing energy subsectors.”

“We value the opportunity to partner with Ares on this transaction, which reflects the strength of our platform and the disciplined growth of our business,” said Sandhya Ganapathy, Chief Executive Officer of EDP Renewables North America. “This collaboration reinforces our ability to deliver long-term value while expanding our presence in key markets across the United States.”

This partnership brings together two experienced platforms, each contributing complementary value creation levers between EDPR’s development and operational expertise and Ares’ extensive capabilities investing in essential and high-quality infrastructure assets. This investment substantially bolsters Ares Infrastructure Opportunities’ portfolio of leading renewable assets and brings the total capacity of power generation assets in which the Ares fund has acquired interests to approximately 5.7 GW across 11 states and five power markets since September 2024.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2025, Ares Management Corporation's global platform had over $572 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About EDP Renováveis

EDP Renewables (EDPR) is a global leader in renewable energy development with a presence in four regions including Europe, North America, South America and Asia Pacific. We have a sound development portfolio of top-level assets and market-leading operating capacity in renewable energies.

Our business encompasses onshore wind, distributed and large-scale solar, offshore wind (through a 50/50 joint venture – Ocean Winds) and complementary technologies to renewables, such as hybridization, storage and green hydrogen.

With 16.5 GW deployed across multiple technologies and a €12 billion investment plan up to 2026, we are committed to driving social progress with a particular focus on sustainability and integration. Our employee-centered policies have earned EDPR a listing in the Bloomberg Gender-Equality Index and led to recognition as Top Employer 2024 across Europe, Singapore, Brazil, Colombia and Chile.

EDPR is a division of EDP, a global leader in renewables and the energy transition with over 13,000 employees worldwide. The group is committed to becoming coal free by 2025 and all-green by 2030, a global ambition that reflects EDP’s role and accelerates its sustainable growth over the longer term. In addition to strong renewable assets, EDP also operates across the globe in electricity networks, client solutions and energy management.

EDP – EDPR’s main shareholder – has been listed on the Dow Jones Index for 16 consecutive years, recently being named the most sustainable electricity company on the Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251006433617/en/