EDP Renewables sells minority stake in US portfolio
EDP Renewables (EDPR) has executed a new asset rotation transaction in the United States.
By Ritesh Gupta
The Madrid-based company has signed a pact with Fiera Axium Infrastructure US to sell a minority cash equity interest in a US wind portfolio with a total production capacity of 1,101 MW.
Fiera Axium’s interest in the portfolio will represent 394.5MW.
The portfolio consists of seven operating wind farms, installed between 2008 and 2011, and two wind farms currently under construction and expected to be commissioned in 2014. All of the wind farms have long-term offtake agreements in place.
This is the second asset rotation transaction announced by EDPR with Fiera Axium, further strengthening the existing partnership.