(Reuters) – Totalenergies announced on Wednesday that it has finalized the sale of 50% of a renewable energy portfolio of 604 megawatts (MW) in Portugal to a Japanese consortium composed of MM Capital Partners, Daiwa Energy & Infrastructure and Mizuho Leasing.
The sale is finalized “for a consideration of 178.5 million euros equivalent to a corporate value of 550 million euros”, according to a press release.
The French oil and gas group will keep a 50% stake and will continue to operate assets, the statement said.
“At the end of the expiration of the regulated prices from which they benefit from, the production of these assets, of an average age of 16 years, will be bought by totaling which will ensure its marketing,” he adds.
Totalenergies also announced Wednesday in a separate press release the acquisition of 50% of the renewable portfolio of AES in the Dominican Republic, after having already acquired 30% of its assets in Puerto Rico.
The combined portfolio represents for the group a renewable and storage capacity of more than 1.5 Gigawatt (GW) in the Caribbean, according to the press release.
(Written by Elena Smirnova, edited by Augustin Turpin)
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