January 2 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR) announced on Monday that it has formally sold an 80% equity shareholding in a 499-MW North American onshore wind portfolio.
The renewables arm of Portuguese giant EDP Energias de Portugal SA (ELI:EDP) sold the majority stake to US portfolio manager Axium Infrastructure. The enterprise value for 100% of the wind assets when completed amounts to USD 860 million (EUR 751.21m), based on the transaction price, tax equity and project finance.
The portfolio in question consists of three wind projects located in the US and Canada, namely the 200-MW Meadow Lake VI that is already operational in Indiana; the 199-MW Prairie Queen, expected to reach commercial operation date (CoD) in Kansas during the first half of 2019; and the 100-MW Nation Rise plant in Ontario, with a CoD planned for the fourth quarter of 2019.
(USD 1 = EUR 0.87)