Portuguese utility giant EDP has agreed to sell its entire equity interest in a 68-MWac/70-MWdc wind and solar portfolio in Italy, as the company continues to reshape its renewable asset base and recycle capital into new growth markets.
In a statement issued on Tuesday, EDP said its renewables unit, EDP Renováveis, signed a sale and purchase agreement with PLT Energia SRL. The transaction values the portfolio at an estimated enterprise value of around EUR 150 million, or about USD 171 million. The final price will be subject to customary adjustments at closing, in line with standard market practice.
The assets covered by the deal include four onshore wind farms with a combined capacity of 60 MW, plus one solar photovoltaic plant rated at 9 MWac/8 MWdc. The wind parks are backed by 20-year Contracts for Difference, CfDs, which provide long-term revenue stability. The solar facility operates under 10-year Power Purchase Agreements, PPAs, with offtakers.
Geographically, all of the plants are located across southern Italy, specifically in the regions of Puglia, Basilicata and Campania. EDP said the average remaining life of the wind assets is about 11 years, while the solar plant has been operational for less than one year.
For EDP, the sale aligns with its broader strategy of asset rotation. The Lisbon-based utility has been actively selling mature renewable projects to fund the development of new capacity in higher-growth markets, while also reducing debt and strengthening its balance sheet. Italy remains a core European market for EDP, but the company has been trimming exposure to older, non-core portfolios.
PLT Energia SRL, the buyer, is an Italian independent power producer focused on expanding its renewables footprint domestically. The acquisition will add immediate operating capacity to PLT’s portfolio, along with long-term contracted cash flows from the CfDs and PPAs.
EDP noted that the deal remains subject to standard closing conditions, including regulatory approvals. Barring any delays, the company expects the transaction to be completed during 2026.
The divestment comes at a time when investor appetite for operational renewables in Southern Europe remains strong, driven by Italy’s decarbonization targets and the steady demand for clean power from industrial and commercial buyers. With 20-year CfDs on the wind assets and new PPAs on the solar farm, the portfolio offers PLT a predictable revenue stream for the next decade or more.
By exiting the 68-MW package, EDP frees up EUR 150 million to redeploy into its development pipeline in Europe, North America and Latin America, where the group is targeting gigawatts of new solar, wind and storage projects through the end of the decade.
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