EDPR Sells 58 MW Wind Portfolio in Greece to Faria Renewables for ~€120 Million
EDP Renewables (EDPR) has signed a Sale and Purchase Agreement to sell 100% of a 58 MW wind portfolio in Greece to Faria Renewables for an estimated enterprise value of approximately €120 million. The portfolio comprises one 23 MW operational wind farm and one 35 MW wind farm under construction, both backed by 10-year Power Purchase Agreements.
Transaction date: · Source: edp.com
Key facts
- Transaction date
- Technology
- Onshore Wind
- Capacity
- 58 MW
- Transaction price
- 120 million (currency as reported in the source)
- Buyer
- Faria Renewables
- Seller
- EDP Renewables
- Country
- Greece
- Region
- Greece
- Continent
- Europe
- Development status
- Operational
- PPA
- Yes
Technology details
Two wind farms: one operational wind farm of 23 MW and one under-construction wind farm of 35 MW, both benefiting from 10-year Power Purchase Agreements.
Power purchase agreement (PPA)
Both wind farms benefit from 10-year Power Purchase Agreements.
Additional information
100% sale of both wind farm assets. Estimated enterprise value of approximately €0.12 billion (€120 million), subject to customary adjustments at closing. Transaction subject to usual conditions precedent. Part of EDP/EDPR's asset rotation strategy. EDP holds a 71.4% stake in EDPR.
Source
Original announcement: https://edp.com/en/investors/edp-signs-asset-rotation-deal-58-mw-portfolio-greece