EDPR sells minority stake in US portfolio

UNITED STATES: EDP Renewables (EDPR) has sold a minority stake in its 1.1GW wind portfolio in the US to Fiera Axium Infrastructure.

by David Weston 22 August 2014

EDPR has sold a minority stake in its US portfolio

The Canadian portfolio management firm's interest will total 394.5MW, about 35% of the portfolio, which covers seven wind projects in the US and two that are under construction.

The projects were constructed between 2008 and 2011, and the two under development are set to be commissioned this year, EDPR said.

Based on the transaction price, EDPR valued its whole portfolio at $1.7 billion.

The US developer said the transaction would allow it to reinvest in developing new projects.

This is the second transaction between the two companies. Fiera Axium purchased a 49% stake from EDPR in the 96.6MW Wheat Field project in Oregon last year.

In 2012, Fiera Axium purchased a 30% stake in French energy firm GDF Suez's Canadian wind and solar portfolio.