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Madrid, July 7th 2017: EDP Renováveis S.A. (“EDPR”), through its subsidiary EDPR UK Limited (“EDPR UK”), closed today an agreement with ENGIE, to sell a 23% stake in equity shareholding and outstanding shareholders loans on the Moray Offshore Windfarm (East) Limited (“MOWEL”), for a total consideration of £21 million.
With the completion of this transaction, ENGIE, a partner of EDPR in offshore projects in France and floating projects in Portugal and France, will participate in the investment, development and operation of the Moray wind offshore project, located in the North Sea off the coast of Scotland (Zone 1 of the Crown Estate’s Round 3 programme).
In January 2010, MOWEL was awarded the right, under a farm leasing programme conducted by The Crown Estate, to develop offshore wind energy in Zone 1 of the Third Offshore Wind Licensing Round (“UK Round 3”) and in March 2014 was granted consent, by the Scottish government, for up to 1,116 MW offshore wind development.
EDP Renováveis, S.A.