EDP Renováveis SA, a prominent player in the renewable energy sector, has finalized the sale agreement with Connor, Clark & Lunn Infrastructure, commonly known as CC&L Infrastructure, for an 80% stake in a 297-MW wind park located in Canada.
Announced on Thursday, the transaction carries an enterprise value of approximately CAD 700 million (USD 508.9 million/EUR 476.6 million), affirming EDPR's strategic focus on asset optimization and capital deployment.
The Sharp Hills wind farm, situated in Alberta and commissioned in January 2024, represents a significant addition to Canada's renewable energy landscape. With its capacity to generate clean energy equivalent to the power demand of over 160,000 local households, the facility underscores EDPR's commitment to advancing sustainable energy solutions.
Underpinning its operational viability, the wind park operates under a long-term power purchase agreement (PPA) with Canadian energy infrastructure company TC Energy Corp (TSE:TRP), ensuring stable revenue streams and contributing to the region's energy transition goals.
Commenting on the transaction, an EDPR spokesperson stated, “With the conclusion of this sale, EDPR now has executed around 35% of its EUR-7-billion (USD 7.47 billion) asset rotation program for the period 2023-2026.”
The sale of the majority stake in the Sharp Hills wind park marks another milestone in EDPR's strategic asset rotation program, reflecting the company's commitment to unlocking value from its portfolio while reinvesting in high-growth opportunities in the global renewable energy market.
