Enel Green Power España has sold to First State Wind Energy Investments all of its assets in Portugal totalling 624MW for €900m.

EGPE, 60% owned by Enel Green Power and 40% owned by Endesa, offloaded the entire share capital of Finerge Gestão de Projectos Energéticos – its Portuguese subsidiary – including the repayment of a shareholder loan to Finerge Gestão.

The sale was finalised following the completion of the split of Eólicas de Portugal a company that used to own a portfolio of operating wind farms with a total installed capacity of 1333 MW in which Finerge Gestão held a stake of 35.96%.

As a result of the split, Finerge Gestão added six wind farms totalling 445MW to its existing 197MW.
EGP said the sale and exit from the Portuguese renewable energy sector is part of its “strategy to optimise its portfolio and seize opportunities in countries with greater development potential, in line with the objectives of the company’s current business plan”.