EDP-Energias De Portugal to Sell EDP Renovaveis Wind Portfolio in Spain as Part of Asset Rotation Program
10 Agosto 2020 - 2:29PM
Dow Jones News
By Giulia Petroni
EDP-Energias de Portugal SA said Monday that it would sell the
full equity shareholding and outstanding shareholder loans of its
subsidiary EDP Renovaveis S/A in a wind portfolio to the Finerge
Group for a consideration of about 426 million euros ($502
million).
The Portuguese energy company said the 242-megawatt onshore
portfolio includes seven wind farms in Avila and Catalonia, Spain,
and has been in operation for nine years on average.
The transaction, whose total enterprise value amounts to EUR507
million, is expected to be completed in the fourth quarter,
according to EDP, and is subject to conditions.
The company said the deal is part of an asset rotation program
for the 2019-2022 period.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
August 10, 2020 13:14 ET (17:14 GMT)
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