EDPR announces the completion of the sale of a minority stake in Portuguese assets to CTG
Completion of the sale of 49% equity shareholding and shareholder loans in a portfolio of 422 MW of wind assets located in Portugal, for a final consideration of €248 million.
Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248 of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:
Following the information released to the market on February 27th 2017, EDP Renováveis, S.A. ("EDPR"), 77.5% controlled by EDP, announces the completion of the sale of 49% equity shareholding and shareholder loans in a portfolio of 422 MW of wind assets located in Portugal, to ACE Portugal Sàrl, which is 100% owned by ACE Investment Fund II LP – an entity participated of China Three Gorges Hong Kong Ltd ("CTG HK"), a fully-owned subsidiary of China Three Gorges ("CTG"), for a final consideration of €248 million.
The transaction scope covers assets that were part of ENEOP project and have been fully consolidated at EDPR following the conclusion of the asset split process in 2015.
This transaction is made in the context of the Strategic Partnership between EDP and CTG namely in relation to the €2 billion investment by CTG (including co-funding capex) in EDP Group's operating and ready-to-build renewable energy projects.
EDP – Energias de Portugal, S.A.
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