Energy company EDP has announced through its subsidiary EDP Renováveis that it has completed the sale of a 100% stake in a 121-megawatt wind portfolio in France and Belgium to various companies managed by Amundi Transition Energétique, as per a statement to the Comissão do Mercado de Valores Mobiliários (CMVM).
The transaction is associated with an asset value of 200 million euros, according to the company.
The Portuguese electric group detailed that the portfolio comprises 12 wind projects, specifically 11 operational wind projects in France totaling 111 MW, and one operational wind project in Belgium totaling 11 MW.
This transaction is part of the asset rotation strategy that EDP Renováveis has planned for this year. With this deal, the company has achieved approximately 1.1 billion euros of the targeted 2 billion euros for 2025.
The sale of assets to Amundi Transition Energétique had been announced on May 15, when EDP stated that the deal would only be concluded after consulting with the “Workers’ Committee of EDP Renováveis France Holding” and fulfilling the “conditions precedent set in the sale agreement.”
On July 30, EDP announced that EDP Renováveis reached an agreement with Principia, a company owned by Enel SpA and funds managed by Macquarie Asset Management, to sell a 150 MW wind portfolio in Greece valued at 200 million euros.
On August 4, EDP announced the sale of a solar portfolio in Spain to Prosolia Energy for 160 million euros, and on September 9 reported the completion of an agreement for the sale of 49% of a solar portfolio in California.
EDP holds 71.3% of the capital of EDP Renováveis. U.S. investment manager BlackRock owns 4.4%, Singapore’s sovereign wealth fund GIC has a 4.3% stake, and the remaining 19.9% is held by other shareholders with smaller positions, with the company listed on the Lisbon Stock Exchange.
