EDPR sells wind park to Onex

 In Energy, News, Renewables

EDP Renováveis has completed the sale of a wind farm in Portugal to Onex.

The transaction, announced in July last year, reports Jornal de Negócios, covers five wind farms with a total capacity of 221 MW and an Enterprise Value of €534 million.
The operation had been announced in July 2021, but has only been completed now. “The conditions for the transaction were verified on 31 December 2021, and the completion of the financial transaction has now been finalised” states the power company led by Miguel Stilwell de Andrade.
The sale involves five wind farms. Three of them have been in operation since 2018-19, with a 96 MW capacity. The other two representing 125 MW, began operating in December.
“This transaction will contribute with a €534 million windfall towards the €8Bn asset turnover for 2021 announced on EDPR Capital Markets Day, enabling EDPR to boost value creation and the recycling of capital to be reinvested in profitable growth”, states the company in a communiqué.