EDP Renovaveis has completed the sale to Onex Renewables of a 221MW onshore wind portfolio in Portugal for an enterprise value of €534m.
The transaction scope includes five wind farms, out of which 96MW are in operation since 2018-19 and 125MW have entered in operation in December 2021.
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The conditions precedent of the transaction were verified by 31 December and the financial closing of the transaction has now been finalised, EDPR said.
It added that the transaction contributes with €534m of asset rotation proceeds and is within the context of the €8bn asset rotation programme for 2021-25, which allows EDPR to accelerate value creation while recycling capital to reinvest in accretive growth.