July 22, 2021

EDPR to sell Portuguese wind farms to Onex for EUR 530m – – Renewables Now

July 22 (Renewables Now) – EDP Renovaveis SA (ELI:EDPR) announced on Wednesday it has agreed to sell a 100% equity stake in a 221-MW wind portfolio to Onex Renewables Sarl.

The renewables arm of Portuguese utility Energias de Portugal SA (ELI:EDP) will sell its full equity shareholding in the portfolio for an enterprise value of EUR 530 million (USD 624m), or EUR 2.4 million per MW. The deal is subject to customary closing adjustments.
The transaction concerns three operational wind parks and two plants currently under construction, with a commercial operation date (COD) planned for later this year.

Renewables-focused investor and asset manager Exus Management Partners will manage the five wind farms, EDPR points out in the press release.

This sale is part of the company’s EUR-8-billion asset rotation programme for the 2021-2025 period.
(EUR 1.0 = USD 1.117)