January 28 (Renewables Now) - Portuguese utility Energias de Portugal SA (ELI:EDP), through its renewables unit, has finalised the divestment of a 221-MW Portuguese wind portfolio to Onex Renewables Sarl.
Under the agreement, EDP Renovaveis SA (ELI:EDPR) sold its full equity shareholding in the portfolio for an enterprise value of EUR 534 million (USD 595.9m), the utility announced today.
The transaction concerns five operational wind parks, of which 96 MW were switched on in 2018-2019, while the remaining 125 MW has reached commercial operation this past December.
According to a previous statement, Exus Management Partners, a renewables-focused investor and asset manager, will manage the five wind farms.
The sale is part of the Portuguese energy company's EUR-8-billion asset rotation programme for the 2021-2025 period, it added.
(EUR 1.0 = USD 1.116)