EDP – Energias de Portugal, the country’s largest utility, is planning to divest up to three portfolios of renewable-energy assets in Europe, which could fetch up to €1.5 billion ($1.8 billion), according to The Economic Times.
EDP will announce two portfolio sales in Europe in the short term and is potentially looking at a third. Located in Europe, the portfolios will be big enough to produce around 200 megawatts of power and could be valued at between €300 million ($358 million) and €500 million ($597 million) each.
The proceeds of the sale will go toward funding EDP’s clean energy ambitions.
EDP is planning to ditch coal-fired power generation by 2025 and produce energy from only renewable sources by the end of the decade. The company is planning to sell around one-third of the new wind farms and solar parks it builds.
