EDP to retake 49% stake in European wind portfolio

Portugal

LISBON, January 2, 2024 – Energias de Portugal (EDP) has decided to buy back a 49% stake in its former wind projects in Portugal, Poland and Italy, the Portuguese energy company reported on Friday.

The transaction will be handled by EDP’s green subsidiary EDP Renovaveis.

According to Reuters, the price of the portfolio was worth USD 631 million in June 2023, giving it a total enterprise value of USD 1.32 billion.

The assets have a combined operating capacity of 970 MW, of which 422 MW are in Portugal, 418 MW in Poland and 130 MW in Italy.

The 49% stake was purchased from EDP by ACE funds backed by China’s state-owned power generation utility China Three Gorges between 2016 and 2017.

Additionally, EDP announced that it would be selling its subsidiary Energia Asia Consultoria to China Three Gorges for around USD 110 million.

The Asian-based energy consultancy is a 50:50 joint venture between EDP and ACE Asia.

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