EDPR wraps up 172-MW Italian wind portfolio sale to ERG
EDPR wind park. Image by EDPR
September 12 (Renewables Now) - Portuguese utility Energias de Portugal SA (ELI:EDP), through its renewables unit, has finalised the divestment of a 172-MW wind portfolio in Italy to local peer ERG SpA (BIT:ERG).
Under the agreement, one of ERG's subsidiaries has taken over firms that hold seven operational wind parks from EDP Renewables Italia Holding Srl for an enterprise value of EUR 420 million (USD 422m) as of December 31, 2021.
The buyer pointed out that one minority stake in one of the assets will be directly purchased by a third-party investor.
The seven wind parks are capable of generating 400 GWh per year. They were switched on in the period 2018-2021 and have 20-year contracts for difference (CfDs) with Italian network agency Gestore dei Servizi Energetici (GSE).
Following this latest transaction, the Portuguese energy company has already secured EUR 3.1 billion in proceeds under its EUR-8-billion asset rotation programme for the 2021-2025 period, it added.