The portfolio consists of 12 wind farms "already in operation which are under the Spanish 20-year regulated remuneration scheme. The average age of the portfolio is 12 years".
EDP Renováveis (EDPR) has completed the sale of a 181 MW operating wind portfolio in Spain to China Three Gorges for a total of €328 million, according to a statement sent on Monday to the Securities and Exchange Commission (CMVM).
“EDP – Energias de Portugal, S.A. (“EDP”), through its 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”) informs of, following the information released to the market on November 15th 2021, the completion of the sale to China Three Gorges (“CTG”) of a 100% stake in a 181 MW operating wind portfolio located in Spain,” the statement explained.
The portfolio consists of 12 wind farms “already in operation which are under the Spanish 20-year regulated remuneration scheme. The average age of the portfolio is 12 years”.
The total consideration of the transaction corresponds to an Enterprise Value (100%) of €328 million, which translates into an Enterprise Value of €1.8 million/MW.
With this operation, EDP stated that will “accelerate value creation while recycling capital to reinvest in accretive growth.”