EDP Renovaveis sells 49% of 100 MW wind farm portfolio in France

Oct 14, 2013 - EDP Renovaveis (ELI:EDPR), the green energy arm of Portuguese power utility EDP (ELI:EDP), has reached an agreement to sell 49% in a wind park portfolio of 100 MW in France to two subsidiaries of Swiss holding company Axpo Group, EDP Renovaveis said today in a regulatory filing.

Based on the transaction price, the implied enterprise value for 100% of the assets stands at EUR 126 million (USD 170.6m), EDP Renovaveis added in the statement.

EDP Renovaveis sold the equity shareholding, together with outstanding shareholders loans, to Axpo Power and Celtralschweizerische Kraftwerke, both of Axpo Group.

EDP Renovaveis has already pocketed EUR 620 million from the sale of minority stakes in operational wind farms. The sales are part of a rotation strategy, aimed at generating cash-flow and investing in the development of projects with value added.

(EUR 1 = USD 13.544)

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