February 12 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR) is officially no longer the owner of the 137-MW Babilonia wind farm in Brazil after announcing today it had completed its sale to an affiliate of private equity investor Actis.
The renewables arm of the Portuguese utility Energias de Portugal SA (ELI:EDP) sold its full equity shareholding in Babilonia for a total consideration of BRL 598 million (USD 138M/EUR 126.5m), while the enterprise value of the transaction amounts to BRL 1.2 billion.
The sale is part of EDPR’s asset rotation programme for 2019-2022, the Madrid-based company said.
The Babilonia wind farm, until now wholly-owned by EDPR, is located in the Brazilian state of Bahia. Commissioned in the final quarter of 2018, the wind farm has been operating under a 20-year power purchase agreement (PPA) awarded in an auction held in 2015.
(BRL 1.0 = USD 0.23/EUR 0.21)