EDP Renováveis completes sale to Onex of wind farm in Portugal

EDP Renováveis announced this morning that it has completed the sale to Onex Renewables of a wind farm located in Portugal, with a capacity of 221 MW and an Enterprise Value of 534 million euros, according to a statement sent to the Portuguese Securities and Exchange Commission.

The transaction had been announced in July last year, but has only now been completed. "The conditions precedent to the transaction were verified on December 31, 2021, and the financial conclusion of the transaction has now been finalized," explains the electric company led by Miguel Stilwell de Andrade.

At stake are five wind farms. Of these, three have been in operation since 2018-19, with a capacity of 96 MW and the remaining two, representing 125 MW, began operating last December.

Also read EDP sells 221 MW wind portfolio in Portugal for 530 million "This transaction will contribute E534 million of Asset Rotation proceeds and is in the context of the E8 billion 2021-25 Asset Rotation program announced at EDPR's Capital Markets Day, allowing EDPR to accelerate value creation and recycle capital to reinvest in profitable growth," the statement said.