EDP Renováveis has sold its total shareholding in an onshore wind project with 137 megawatts of installed capacity for 650 million reais to a subsidiary of investment company Actis, according to EDP – Energias de Portugal.
The statement issued through the Portuguese Securities Market Commission (CMVM) said that the Babilónia wind farm is located in the state of Bahia, Brazil, and has been in operation since the fourth quarter of 2018.
The announced divestiture is part of the group’s asset rotation strategy, or the sale of majority stakes in operational or under development renewable projects, enabling EDP to accelerate value creation and recycle capital to reinvest in further growth.
“Including this transaction, EDP has already achieved about 25% of the 4 billion-euro asset rotation target for 2019-2022, announced in the strategic presentation of 12 March 2019,” said the statement. .
Actis is an emerging-market private equity, energy, infrastructure and real estate investment company with an estimated portfolio of US$7.6 billion. (Macauhub)