News Summary

• Ares Management Corporation has announced that a fund under its Ares Infrastructure Opportunities strategy (Ares fund) has secured a 49% ownership in a portfolio of assets from EDP Renováveis.
• The portfolio comprises ten assets with a combined capacity of 1,632MW.
• This comprises 1,030MW of solar, 402MW of wind, and 200MW of storage capacity, spanning four US power markets.
• All these projects have long-term power purchase agreements, with an average remaining contract period of 18 years.