EDP sells stakes in a wind portfolio in Spain to China Three Gorges

EDP Renováveis (EDPR), the Spanish subsidiary of the Energias de Portugal (EDP) group, announced on Monday the sale of a Spanish wind power portfolio’s whole ownership to China Three Gorges for 328 million euros.

EDPR detailed that the operating wind portfolio in Spain includes twelve operational wind farms, with a combined capacity of 181 MW, which is covered by the Spanish regulatory remuneration scheme for 20 years.

With the completion of this transaction, EDPR will achieve 2.4 billion euros in cash, which is part of the EDPR’s 8 billion euros asset rotation program for 2021–25.

According to the company, this initiative will allow for an increase in the production of value and the recycling of funds to reinvest in successful expansion.