The company has completed the sale to funds managed by Greencoat Capital of a 68% equity stake in a wind portfolio located in the US. This transaction will contribute with approximately €500 million of asset rotation proceeds and is within the context of the €8 billion asset rotation programme for 2021 - 2025 announced in EDPR Capital Markets Day.
The equity stake is comprised of two operating wind farms totalling 405 MW. These are namely Bright Stalk (205 MW), located in Illinois and in operation since 2019, and Harvest Ridge (200 MW), located in Illinois and in operation since 2020.
The total consideration of the transaction corresponds to an Enterprise Value (100%) of US$720 million, which translates into an Enterprise Value of US$1.8 million/MW (equivalent to US$2.1 million/MW at projects’ COD).
This transaction will allow EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.
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