EDP Renováveis sells five wind farms in Portugal worth €534M
EDP said the sale of the 100% stake in a 221 MW wind portfolio "comprises five wind farms, of which 96 MW have been in operation since 2018-19 and the remaining 125 MW came online in December 2021."
EDP Renováveis has completed the sale of five wind farms in Portugal to Onex, in an operation estimated at €534 million, it announced to the market on Friday.
In a statement posted on the Portuguese Securities Market Commission (CMVM) portal, EDP said the sale of the 100% stake in a 221 MW wind portfolio “comprises five wind farms, of which 96 MW have been in operation since 2018-19 and the remaining 125 MW came online in December 2021.”
The transaction will contribute €534 million “of proceeds from asset rotation” and is “in the context of the €8 billion asset rotation programme for 2021-2025”, with which EDP wants to “accelerate value creation and recycle capital to reinvest in profitable growth,” it says.
In the note, EDP said that the conditions precedent to the transaction were verified on December 31, 2021, and that the financial conclusion has now been finalised.
When the sale was announced in July 2021, EDP Renováveis pointed out that after the completion of the transaction, these parks will be managed by Exus Management Partners, “which has a strong presence in the Iberian Peninsula”.
EDP Renováveis is 74.98% owned by EDP.
