EDP sells solar park for US$300M

EDP Renováveis (EDP Renewables outside of Portugal) has sold its Indiana Crossroads Solar Park in the US State of Indiana to the Northern Indiana Public Service Company LLC for US$300.

The news was communicated to the Portuguese stock market regulator CMVM this week. The contract was signed through a ‘build&transfer’, in other words it is down to the Portuguese electricity giant to build the solar park and deliver it ready-built and ready to go to the new owner.
“EDPR has netted €3.4Bn by a rotation of assets”, states the company, adding that the sale is “within the context of a rotation of assets”, states the company in a communiqué.
The company’s asset rotation programme for 2021-2025 involving €8Bn in assets will enable EDP Renováveis to boost value creation and recycle capital to reinvest in profitable growth.