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Babcock & Brown has advised that, in conjunction with Babcock & Brown Wind Partners it has sold a portfolio of jointly owned wind farms in Portugal to a consortium of investors led by Magnum Capital for an Enterprise Value of approximately €1.15 billion.

The portfolio comprises approximately 515MW of operating wind farms and a further 156MW of wind farms under construction. As part of the transaction and consideration, Babcock & Brown has also sold Magnum certain Portuguese wind energy service companies. The sale is effective immediately and settlement has occurred. Babcock & Brown has retained ownership of its other wind interests in Portugal, which include 123MW of projects under construction, 38MW of projects under development and its interest in the Ventinveste wind tender consortium. Babcock & Brown will continue to develop and construct these assets and will look to sell them at an appropriate time. Negotiations on the sale of Babcock & Brown wind energy assets in France, Greece and Germany remain ongoing.
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