Energias de Portugal Renovaveis (EDPR), the renewable branch of Portuguese energy group EDP, has inked a deal with China Three Gorges (CTG) to sell a 49% stake in a portfolio of wind assets in Portugal for €242m.
The transaction will cover 422 MW of wind capacity developed in the ENEOP project (1,335 MW wind complex developed between 2006 and 2015 and commissioned in 2015); EDPR will sell 49% of its ENEOP assets to ACE Fund (ACE Investment Fund, a fully-owned subsidiary of CTG).
This deal takes place in the context of CTG's original €2bn investment commitment in EDPR and follows the sale of a 49% in EDP Renováveis Portugal to CTG in July 2013 (615 MW in operation). CTG also acquired a 49% stake in a portfolio of wind assets with a capacity of 598 MW in Poland and Italy in January 2016 and up to 30% of the up to 1.1 GW Moray offshore wind project in Scotland (United Kingdom) developed by EDPR in October 2015.
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