Portugal’s EDP Renováveis said on Wednesday it has agreed to sell an 80 per cent stake in a 297 megawatt (MW) wind farm in Alberta, Canada, to fund CC&L Infrastructure for $600-million (US$442.54-million).
EDP Renováveis will retain a minority equity stake and continue to operate and manage the wind farm, the renewable energy company said.
The deal is part of EDPR’s strategy to raise €7-billion through “asset rotation” as it sells mature renewable energy sites to finance new ones.
The company previously sold CC&L Infrastructure a portfolio of U.S. solar and wind plants with a combined capacity of 560 MW.