EDPR wraps up sale of 242-MW Spanish wind portfolio to Finerge

EDP Renovaveis wind farm

December 16 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR) announced on Tuesday it has completed the sale of 242 MW of Spanish onshore wind farms to Portuguese renewable power company Finerge Group.

The renewables arm of the Portuguese utility Energias de Portugal SA (ELI:EDP) sold its full equity shareholding in the wind portfolio for a total consideration of around EUR 450 million (USD 547m). The wind farms have been in operation for an average of nine years, EDP said.

According to the company's sale filing published this past August, the Spanish portfolio consists of seven wind farms located in Avila province and Catalonia.

The sale is part of EDPR’s asset rotation programme for 2019-2022, the Portuguese electric utility said in the press release.

(EUR 1.0 = USD 1.216)

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