EDPR concludes the sale of minority stakes in wind farms in Brazil to CTG
Madrid, May 19th 2015: EDP Renováveis, S.A. (“EDPR”) informs that following the information released to the market on December 29th 2014 and the obtainment of the relevant regulatory approvals, EDP Renováveis Brasil, S.A. (“EDPR Brasil”) has completed the sale to CWEI (Brasil) Participações Ltda (“CWEI Brasil”), a subsidiary of China Three Gorges (“CTG”) of a minority equity shareholding in selected wind farms in Brazil. Following price adjustments, in order to reach a 49% equity shareholding CWEI Brasil will invest a total of R$385.7 million, including equity contributions already completed and R$86.8 million of estimated future equity contributions for the projects currently under construction/development.
The transaction scope covers 84 MW of wind energy in operation, as well as 237 MW of wind energy under construction/development that were already awarded with long‐term contracts to sell the electricity produced for 20 years.
The transaction is made in the context of the €2bn strategic partnership established in Dec‐11 between EDPR’s principal shareholder, EDP – Energias de Portugal, S.A. (“EDP”), and CTG.