Onex Renewables to acquire a 221 MW wind portfolio from EDP Renewables for $627m.

Onex Renewables, a renewable energy development company, agreed to acquire a 221 MW wind portfolio from EDP Renewables, a firm that designs, develops, manages, and operates power plants, for $627m. The transaction is subject to regulatory and other customary conditions. Furthermore, it will contribute with approximately $627m of asset rotation proceeds and is in the context of the $9.4bn asset rotation programme for the period 2021-25 announced at EDPR's Capital Markets Day, which will enable EDPR to accelerate value creation while recycling capital for reinvestment in value accretive growth.