Portugal's Energias de Portugal announced on Friday that its renewables unit, EDP Renováveis, is set to repurchase a 49% stake in its former wind portfolios situated in Portugal, Poland, and Italy. The deal, valued at 570 million euros ($631.22 million) as of June 2023, implies a total enterprise value of approximately 1.2 billion euros.
The wind portfolios boast a combined gross operating capacity of 970 megawatts (MW), with specific capacities of 422 MW in Portugal, 418 MW in Poland, and 130 MW in Italy. Notably, the ACE funds, sponsored by Chinese utility China Three Gorges, had initially acquired the 49% stake from EDPR during transactions that took place between 2016 and 2017.
In a related statement, EDP also revealed its intention to sell its Asian consultancy firm, Energia Asia Consultoria, to China Three Gorges for around 100 million euros. Energia Asia operates as a 50-50 joint venture owned by EDP and ACE Asia.
Energia Asia's primary asset is a 21.2% stake in Companhia de Electricidade de Macau (CEM), the exclusive concessionaire responsible for the transmission, distribution, and supply of electricity in Macau since 1985, as highlighted by EDP.
