EDPR sells stakes in 499MW of North American wind for US$860m
03 January, 2019
Spanish renewable energy firm EDPR has sold 80% stakes in three North American wind farms totalling 499MW to Axium Infrastructure for US$860m (£684m).
Axium acquired the stakes in the 200MW Meadow Lake 6 facility in Indiana, the 199MW Prairie Queen development in Kansas and the 100MW Nation Rise project in Canada.
Meadow Lake 6 came online in December 2018, while Prairie Queen is due to start operations in the first half of 2019.
EDPR completed the sale of 75% of Nation Rise with the other 5% due to be sold when the project starts operations in the fourth quarter of this year.
According to the company, the sales are part of a ‘sell-down’ strategy to offload majority interests in projects under development and operational.