EDRVY EDP Renovaveis SA (PK)

   By Giulia Petroni 
 

EDP Renovaveis SA said Thursday that it has completed the sale of a 68% stake in a wind-farm portfolio in the U.S. to funds managed by Greencoat Capital LLP.

The Portuguese renewable-energy company said the stake includes two operating farms totaling 405 megawatts in the state of Illinois.

The transaction is based on an enterprise value of $720 million for 100% of the assets, according to EDPR.

The sale will contribute around 500 million euros ($593.9 million) of asset rotation proceeds and is part of the EUR8 billion asset-rotation program for the 2021-25 period, the company said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 01, 2021 05:42 ET (09:42 GMT)

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