EDPR sells down North American wind assets to private-equity buyer

Portugal’s EDP Renováveis has agreed to sell an 80% equity stake in a 499MW portfolio of North American wind projects to Toronto-based private-equity firm Axium Infrastructure.

The implied enterprise value of the three wind farms is $860m, EDP Renovaveis said in a statement. EDPR, whose parent EDP is partly controlled by China Three Gorges, is among the largest owners of US wind farms through its Houston-based EDP Renewables North America unit.