December 21 (Renewables Now) - Energias de Portugal SA (ELI:EDP) announced on Wednesday it completed the sale of 103 MW of small hydropower plants (HPPs) assets to investment company Aquila Capital.
The transaction, valued at EUR 164 million (USD 187.20m), transferred ownership of EDP Small Hydro SA from EDP's subsidiary EDP-Gestao da Producao de Energia SA to Aquilla Capital.
The acquired company directly owns seven small HPPs, and also controls Pebble Hydro Consultoria, Investimento e Servicos Lda, which in turn holds 14 other.
According to previous statement made by EDP, these 21 HPPs have an average residual concession life of 14 years. Together, the two companies' earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 21 million in the last year.
EDP will remain in charge of the operation and maintenance (O&M) of these plants for a non-specified transition period.
(EUR 1 = USD 1.14)