EDP Renewables (EDPR) has signed a sale and purchase agreement with institutional investors advised by J. P. Morgan Asset Management (JP Morgan) to sell EDPR’s full equity shareholding and outstanding shareholder loans in an operating onshore wind portfolio with 997MW of installed capacity (491MW net for EDPR, with a participation of 51% in most wind farms), for a total consideration of approximately € 800 million.
A Master services agreement has also been executed pursuant to which EDPR will provide operating and maintenance services to the above mentioned portfolio.
In detail, the transaction scope covers 388MW in operation in France, 348MW in operation in Spain, 191MW in operation in Portugal and 71MW in operation in Belgium. The total portfolio has been in operation for 7 years on average. EDPR had already previously sold minority stakes in these wind farms in 2013, 2014 and 2016, and with this agreement is fully exiting ownership of these projects.
