EDPR Plans Portugal Wind Sale

Photo-illustration: Pixabay

EDP Renewables Europe is to sell a 49% stake in a portfolio of wind farms in Portugal totalling 422MW to ACE Portugal Sàrl for €242m.

ACE Portugal Sàrl is owned by ACE Investment Fund II, which is a subsidiary of China Three Gorges.

EDPR said the assets were part of the ENEOP project and have been “fully consolidated” at the company following the conclusion of an asset split process in 2015.

It added that based on the transaction price, the total implied enterprise value of the assets is €707m – made up of €494m in equity value and shareholder loans and €213m of external debt.

Source: renews.biz