07:25 AM EDT, 10/06/2025 (MT Newswires) -- Ares Management ( ARES ) said Monday that a fund it manages acquired a 49% stake in a 10-asset US clean energy portfolio from EDP Renovaveis that values the portfolio at roughly $2.9 billion.

The assets total 1,632 megawatts in four US power markets, totaling 1,030 MW of solar, 402 MW of wind, and 200 MW of storage, the company said.

All projects have long-term power purchase agreements with an average remaining term of 18 years, Ares said.