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.
