EDP Renováveis to sell its 137 MW Babilonia wind farm in Brazil

Energias de Portugal SA has announced the agreement to sell the 137 MW Babilonia onshore wind farm in the Brazilian state of Bahia to an affiliate of private equity investor Actis, for a total consideration of approximately BRL650 million (US$171.88 million)(equity value; subject to customary closing adjustments).

The Babilonia wind park has been operating since the final quarter of 2018. It has a 20-year power purchase agreement (PPA) that was awarded to the project in an auction held in 2015.

The sale of the asset is pending regulatory clearance and is seen to close in the fourth quarter of 2019. It is part of EDP’s asset rotation strategy and brings the total proceeds for 2019-2022 up to a 25% share of the EUR4 billion (US$4.45bn) target.