EDP sells 9 wind farms in Spain

Portugal’s EDP Renovaveis (EDPR.LS) has sold nine wind farms in Spain for €460 million euros according to Bloomberg this week.

The world’s fourth-largest renewable energy producer, EDPR sold nine wind farms with a combined capacity of 257 megawatts (MW) to the Austria State-owned company Verbund.
Verbund is the largest electricity producer and supplier in Austria and the sale, estimated at up to €500 million in March. Was sold at the enterprise value of €460 million set on December 31, 2022.
According to EDPR the transaction involves nine operational wind farm projects with an average age of 14 years with the possibility of booting power output through additional hybrid capacity.
In March the company had said it planned to raise €7Bn through “asset rotation” by selling off mature renewable energy parks to finance new ones.
Spain is attracting many investors for renewable energy projects and several power companies such as Iberdrola (IBE.MC) and Grenergy (GREG.MC) have announced asset sales in the country.
Energias de Portugal (EDP.LS) holds a 75% stake in EDPR and the two companies are led by the same CEO, Miguel Stilwell de Andrade.