EDPR Completes Sale of Wind-Farm Portfolio Stake in US
July 01 2021 - 4:50AM
Dow Jones News
By Giulia Petroni
EDP Renovaveis SA said Thursday that it has completed the sale
of a 68% stake in a wind-farm portfolio in the U.S. to funds
managed by Greencoat Capital LLP.
The Portuguese renewable-energy company said the stake includes
two operating farms totaling 405 megawatts in the state of
Illinois.
The transaction is based on an enterprise value of $720 million
for 100% of the assets, according to EDPR.
The sale will contribute around 500 million euros ($593.9
million) of asset rotation proceeds and is part of the EUR8 billion
asset-rotation program for the 2021-25 period, the company
said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 01, 2021 05:42 ET (09:42 GMT)
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