EDP Renovaveis SA has successfully completed the acquisition of a 49% stake in a 970-MW wind portfolio in Europe for approximately EUR 580 million (USD 634 million).
The company purchased the interest from two funds associated with China Three Gorges (CTG), specifically ACE Investment Fund I LP and ACE Investment Fund II LP.
This acquisition reflects an implied enterprise value of EUR 1.2 billion for the entire portfolio.
With this buyback, EDP Renovaveis now holds 100% ownership of the wind portfolio, reinforcing the importance of Europe as a core market within its overall investment strategy, according to a statement from the company.
