EDPR announces sale of additional 13.4% in UK wind offshore project | EDP Renováveis

Madrid, November 14th, 2018: EDP Renováveis S.A. (“EDPR”), through its subsidiary EDPR UK Limited (“EDPR UK”), has closed the sale of a 13.4% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited (“MOWEL”), to Diamond Generating Europe Limited (“DGE”), for a total sum of £54 million.



This sale follows the initial 20% sale announced on March 23rd 2018 and the agreement on the sale of an additional 13.4%.



With the completion of this transaction, the EDPR stake in MOWEL is 43.3%, along with DGE (33.4%) and ENGIE (23.3%).



In September 2017, MOWEL was awarded a 15-year Contract for Difference (CfD) by the UK’s Department for Business, Energy & Industrial Strategy (“BEIS”) for the delivery of 950 MW of offshore wind generation at £57.5/MWh (2012 tariff-based). MOWEL is expected to be completed by 2022.



EDP Renováveis, S.A.