Global renewables giant EDPR has agreed to sell a 49% stake in a portfolio of Portuguese wind assets to China Three Gorges (CTG) in a €242m ($256m) deal.
The sale is the latest under the terms of the €2bn investment made by CTG in EDPR’s parent group, Portuguese utility EDP, back in 2011.
The latest deal covers 422MW of operating wind assets in Portugal with an average age of six years, and implies an enterprise value of €1.7m/MW,
