By Max Bernhard 
 

EDP SA (EDP.LB) will sell six hydro plants to a consortium consisting of Engie SA (ENGI.FR), Credit Agricole S.A. (ACA.FR) and Natixis (KN.FR) in a deal worth 2.21 billion euros ($2.46 billion).

The sale is for 1,689 megawatts of installed capacity in the Douro river basin in Portugal and includes three run-of-river plants and three pumped-storage power plants, the Portugese utility said Thursday.

In 2018, the plants contributed EUR154 million to earnings before interest, tax, depreciation and amortization. The deal is expected to be completed by the second half of 2020, subject to regulatory approvals.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

December 19, 2019 10:32 ET (15:32 GMT)

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