EDPR sells 68% equity stake in 405-MW US wind farm portfolio

EDPR wind park in the US. Source: EDPR. License: All rights reserved.

July 1 (Renewables Now) - Madrid-based renewables company EDP Renovaveis SA (ELI:EDPR) said Thursday that it has finalised the sale of a 68% equity stake in a portfolio with 405 MW of wind farms in the US.

The transaction involved the sale of portions of the 205-MW Bright Stalk and the 200-MW Harvest Ridge wind farms to funds managed by UK investor Greencoat Capital.

Announcing the sale and purchase agreement in early April, EDPR said it would transfer a 55% stake to the buyer, but could unload up to 80% before the close.

The transaction considers an enterprise value of USD 720 million (EUR 607.8m) for 100% of the assets, which translates into an enterprise value of USD 1.8 million per MW, the company said.

Both Bright Stalk and Harvest Ridge are located in the US state of Illinois. The Bright Stalk wind farm has been in operation since 2019, while Harvest Ridge started operating in 2020.

(USD 1.0 = EUR 0.844)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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