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Portugal's EDP sells $676M stake in wind, solar portfolio

Sep. 03, 2020 8:28 AM ETEDP - Energias de Portugal, S.A. (EDPFY) StockEDPFY, ELCPFBy: Carl Surran, SA News Editor
  • EDP-Energias de Portugal (OTCPK:EDPFY) agrees to sell an 80% stake in a wind and solar portfolio to Canadian-based Connor, Clark & Lunn Infrastructure for an enterprise value of $676M.
  • The wind and solar portfolio located in the U.S. comprises four wind farms in operation and one solar asset for a combined 563 MW.
  • Following the deal, EDP says it has executed more than 55% of the €4B ($4.74B) target proceeds for 2019-22 announced in its March strategic update.
  • Six weeks ago, EDP agreed to buy Spanish electricity company Viesgo from Macquarie funds in a deal worth €2B including debt.

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