Portuguese renewable energy company EDP Renováveis SA has entered into an agreement to divest its entire stake in a 191-megawatt wind portfolio located in Italy to local renewables group PLT Energia.
EDPR announced on Friday that the transaction with PLT Rew 2 Srl is valued at EUR 400 million (USD 428m) for full ownership of the portfolio.
The wind portfolio, situated in southern Italy, consists of seven operational wind farms. Among these, five benefit from a regulated tariff (CfD), while two operate under power purchase agreements (PPA). The average operational lifespan of these assets stands at approximately 1.4 years.
Pending regulatory approvals, the sale aligns with EDPR's broader asset rotation strategy, encompassing approximately EUR 6 billion for the period spanning 2024 to 2026.
