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EDP Renováveis sells another 13.4% offshore wind project

EDP Renováveis (EDPR) has announced the sale of a 13.4% equity stake in the Moray Offshore Windfarm project in the United Kingdom for 54 million pounds (62 million euros).

In a statement to the Securities and Exchange Commission (CMVM), the company, which was 82.6% owned by EDP, announced that “through its subsidiary EDPR UK Limited, it concluded the sale of a 13.4% capital and supplies related to the Moray Offshore Windfarm (East) Limited project to Diamond Generating Europe Limited (“DGE”) for a total of 54 million pounds. ”

The sale follows the initial 20% transaction announced on March 23 this year, when it was agreed to sell an additional 13.4% stake.

The same notice details that, with this operation, EDPR’s participation in this project is 43.3%, “together with DGE (33.4%) and ENGIE (23.3%)”.

In September 2017 Moray Offshore Windfarm (East) Limited won a UK contract “for 15 years for the delivery of 950 MW [offshore wind generation] to 57.5 pounds / MWh [megawatt/hour].”

Completion of the project is planned for 2022.

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