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EDP Renovaveis seeks to sell wind farms in Spain, Expansion reports

MADRID, March 10 (Reuters) – Portugal’s EDP Renovaveis (EDPR.LS) is looking to sell wind farms in Spain potentially worth 500 million euros ($530 million), Spanish newspaper Expansion reported on Friday, citing unidentified market sources.

The world’s fourth-largest renewable energy producer, EDPR has put nine wind farms up for sale with a combined capacity of 256 megawatts, the newspaper said.

EDPR did not immediately respond to a request for comment.

The company said this month it plans to raise 7 billion euros through “asset rotation” as it sells mature renewable energy parks to finance new ones.

Spain is attracting many investors for renewable energy projects and several power companies such as Iberdrola (IBE.MC) and Grenergy (GREG.MC) have announced asset sales in the country.

Energias de Portugal (EDP.LS) holds a 75% stake in EDPR and the two companies are led by the same CEO.

($1 = 0.9437 euros)

Reporting by Inti Landauro

Our Standards: The Thomson Reuters Trust Principles.

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