The transaction is aimed at optimizing the portfolio, according to the electric. EDP aims to net 164 million from the sale of two units that hold mini-hydro plants.
EDP – Energias de Portugal announced on Friday that it has reached an agreement with Aquila Capital for the sale of 100% of the capital of EDP Small Hydro and Pebble Hydro, which has a total of 21 mini-hydro plants. The power company intends to allocate 164 million to this business, according to a statement sent to the Securities Market Commission (CMVM).
“EDP, through its subsidiary EDP – Gestión de Produção de Energia, SA, reached an agreement with Aquila Capital for the sale of 100% of EDP Small Hydro, SA (” Small Hydro “), which has 7 mini plants and Pebble Hydro – Consultoria, Invest. e Serv., Lda (“Pebble Hydro”), which in turn holds 14 mini-hydroelectric plants, “said the electric company.
The business, with an enterprise value of 164 million euros (a value that includes debt), is still subject to the usual approvals of regulators.
According to the company led by António Mexia, the 21 mini-hydro plants in question have an average residual concession of 14 years and “are located in the Central and Northern region of Portugal and total 103 MW of installed capacity,” he says.
It should be recalled that in July, the electricity company sold 50% of EDP Produção Bioeléctrica S.A. to Altri, for 55 million euros. With these businesses, EDP aims to “optimize the portfolio through the sale of non-strategic and small-scale activities in Portugal, as well as the allocation of these funds to other growth areas,” he explains.