Share Name Share Symbol Market Type
EDP Energias DE Portugal SA EU:EDP Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.039 -0.86% 4.497 4.48 4.522 4.549 4.428 4.501 8,835,618 16:40:00

Portugal's EDP Renovaveis Sells 49% Stake in US Wind Parks

06/11/2012 3:53pm

Dow Jones News

EDP Energias DE Portugal (EU:EDP)
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LISBON--Portuguese renewable-energy company EDP Renovaveis SA (EDPR.LB) said Tuesday it is to sell a 49% stake in four U.S. wind farms to Canada's Borealis Infrastructure for $230 million.

The wind farms have 599 megawatts in combined installed capacity and long-term power purchase agreements. Borealis is the infrastructure investment arm of one of Canada's largest pension funds.

The deal is part of EDPR's plan, announced in May, to sell minority stakes in mature projects.

In a separate earnings presentation, EDPR said it expects to complete a similar deal with China's Three Gorges Corp. this year.

EDPR is the renewable-energy unit of Energias de Portugal (EDP.LB), which is 21%-owned by the Chinese company after the government sold its stake under Portugal's bailout program.

Write to Carla Canivete of Webtexto at djmadrid@dowjones.com

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