EDP to sell 242 MW of Spanish wind projects
EDP Renováveis, SA (EDPR) has signed a purchase agreement with Finerge SA for the sale of EDPR's entire shareholding - and outstanding shareholder loans - in a portfolio of Spanish onshore wind farms in operation and with an installed capacity of 242 MW, for a value of about EUR426 million (US$500 million).
Specifically, it concerns the divestment of seven onshore wind farms located in Ávila and Catalonia. The assets in question have been operating for an average of nine years. Likewise, taking into account the transaction price and the net value of the outstanding net debt, the valuation of the assets amounts to about EUR507 million (US$596 million).
The transaction is subject to regulatory and other conditions precedent and is expected to be completed in the fourth quarter of 2020.
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