EDP's renewables arm holds off yieldco listing in Spain
EDPR's Margonin wind farm in Poland. Source: EDPR. Licence: All rights reserved.
The renewables arm of Portuguese utility EDP (ELI:EDP) said on Monday it has decided to hold off the potential listing of an yieldco vehicle on the Spanish bourse in light of the “evolution of capital markets conditions”.
EDP Renovaveis SA (ELI:EDPR) was evaluating the possibility of creating an yieldco to hold wind power facilities in Europe. However, following a comprehensive analysis conducted by the company and its advisors, it has chosen to put this plan on hold.
The renewables developer pointed out it will continue considering alternatives of expanding its existing asset rotation programme in a drive to keep its self-funding strategic pillar and, at the same time, capture further growth opportunities.
Last month, EDPR said it has received a regulatory approval to acquire a 613-MW wind portfolio in Portugal from Eolicas de Portugal SA, also known as the ENEOP consortium. EDPR currently holds a 40% stake in the ENEOP consortium, whose shareholders have agreed to split the assets held by it.