Enel Green Power has sold its subsidiary in Uruguay including the 50MW Melowind wind farm to Atlantica Yield for $120m.
Melowind is located in Cerro Largo, about 320km from the capital Montevideo.
Enel said the transaction is part of a “disposal programme of non-core assets” in the company’s portfolio management plan.
“This strategy allows for the reallocation of resources to areas with a greater growth margin and potential for the group,” the company said.
Electricity generated by the wind farm is sold to the state-owned power company UTE under a 20-year power purchase agreement.
Atlantica Yield owns renewables, natural gas and transmission and water assets in North and South America, Europe, the Middle East and North Africa.
It already owns two wind farms in Uruguay with a total capacity of 100MW.