EDP Renovaveis (EDPR) has completed the sale of the 137MW Babilonia wind farm in Brazil to investment fund manager Actis for an enterprise value of €300m.
Babilonia, located in the state of Bahia, has been in operation since the fourth quarter of 2018.
It was awarded a 20-year power purchase agreement in a reserve energy auction held by the Brazilian government in 2015.
The wind farm comprises 65 Siemens Gamesa G114-2.1MW turbines. Siemens Gamesa is maintaining the wind farm for a period of five years, since it began operations.
EDPR concluded the sale as part of an ‘asset rotation’ programme for the 2019 to 2022 period.
EDPR said it would sell shareholdings in renewable projects that are operational or in development, to allow it to “accelerate value creation” and “recycle capital” to reinvest in additional growth.
Actis is an investment company in private funds in emerging markets, energy, infrastructure and real estate assets.