July 31 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR), part of EDP - Energias de Portugal SA (ELI:EDP), has concluded the sale of its interest in a 997-MW European wind portfolio to institutional investors advised by JP Morgan Asset Management.
The value of the deal, which covers EDPR's full equity shareholding and outstanding shareholder loans, amounts to EUR 808 million (USD 901.56m).
According to a previous filling, the transaction concerns 388 MW of French wind farms as well as 348 MW in Spain, 191 MW in Portugal and 71 MW in Belgium. EDPR's 51% stake in most of these plants translates into a total net capacity of 491 MW.
The sale aligns with EDP's asset rotation programme for the period 2019‐2022.
Following the sale, EDPR will deliver operating and maintenance (O&M) services to the divested wind farms.
(EUR 1 = USD 1.12)