EDP Renováveis sells wind power assets in four European countries

24 April 2019

EDP Renováveis (EDPR), the renewable energy arm of Portugal’s EDP group, has raised 800 million euros from the ales of wind power assets in Portugal, Spain, France and Belgium, according to a statement filed with the Portuguese Securities Market Commission (CMVM).

The sale of the total shareholding and equity loans of the onshore wind power projects with a total of 997 megawatts of installed capacity was made to “institutional investors advised by JP Morgan Asset Management.”

“The transaction’s perimeter covers 388 megawatts in operation in France, 348 in operation in Spain, 191 in operation in Portugal (part of the assets of the former ENEOP – Eléctricas de Portugal consortium) and 71 megawatts in operation in Belgium,” said the company, noting that these assets have been in operation for seven years on average.

EDPR recalled that it had previously sold, “minority interests in these wind farms, specifically in 2013, 2014 and 2016, and has now reached an agreement to sell its remaining holdings in these projects,” according to the same statement.

EDP Renováveis also said that, despite having sold those assets, it has signed a contract under which it will provide “operational and maintenance services to the portfolio,” in question.

The share capital of the company is 82.6% controlled by the EDP – Energias de Portugal group, which, in turn, has as its main shareholders China Three Gorges, with 23.27% and CNIC Co. Ltd, with 4.98 %, both from China, Oppidum Capital with 7.19% and BlackRock, Inc. with 4.997%. (Macauhub)