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EDP acquires wind assets from eole 76 group in France

EDP acquires wind assets from eole 76 group in France

Out of these projects under development, 8 MW are under construction, 12.5 MW already have all the necessary authorizations to start construction and are expected to enter into operation between 2009 and 2010, while construction licenses were already submitted for another 43 MW.

The payment will correspond to €51.3 million (including €8.5 million of shareholders’ loans), and EDP Renováveis will assume an additional €43.3 million of project finance financial debt. An additional success fee will be paid for the wind farms that obtain construction licenses until 31-Dec-2013.

The wind farms development team of the companies acquired will remain responsible for these projects, and join EDP Renováveis’ current team located in the French market. With this operation EDP will become the third wind farms player in France in terms of installed capacity, with 122 MW installed.