China Three Gorges has acquired a 49% stake in a 598MW portfolio of EDP Renewables’ wind projects in Poland and Italy for €392m.
The transaction covers 392MW of operational wind capacity in Poland and 100 MW in Italy, with an average age of four years, as well as a total 107MW under construction in Poland and Italy.
In a statement, Portugal’s EDPR said the implied enterprise value of the transaction amounts to €1.74m/MW.
The transaction is subject to the customary regulatory and other approvals and is expected to be completed in the first half of 2016.
The deal is part of a long-standing relationship between China Three Gorges and EDPR.
Image: an EDPR asset in Poland (EDPR)
