EDPR divests 221 MW Portuguese wind portfolio to Onex

EDP - Energias de Portugal, S.A., through its 74.98% owned subsidiary EDP Renováveis, S.A. (EDPR), signed a Sale and Purchase Agreement with Onex Renewables S.a.r.l, to sell a 100% equity stake in a 221 MW wind portfolio located in Portugal for an estimated Enterprise Value of EUR530 million (US$625 million).

The transaction scope comprises five wind farms; three are in operation and two are under construction, with expected completion by the end of 2021. These wind farms will be managed upon completion by Exus Management Partners.

The transaction is subject to regulatory and other customary precedent conditions.