EDP Renewables North America has signed a Sale and Purchase Agreement with funds managed by Greencoat Capital to sell a 55% equity stake in a wind portfolio located in the USA, comprising two winds farms in operation with a total capacity of 405MW.
It concers the Bright Stalk wind farm with 205 MW, located in Illinois and in operation since 2019; and the Harvest Ridge wind farm with 200 MW, located in Illinois and in operation since 2020. The total consideration of the transaction corresponds to an Enterprise Value (100%) of $720 million, which translates into an Enterprise Value of $1.8 million/MW (equivalent to $2.1 million/MW at projects’ COD). The transaction could potentially be upsized to an 80% equity stake between signing and closing, subject to agreement between both parties.
