Deals
EDP Attracts Host of Suitors for Clean-Energy Prize With a Catch
- Any deal hinges on China Three Gorges deal going through
- EDPR previously attracted interest from utilities, Engie
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EDP-Energias de Portugal SA’s 7.5 billion-euro ($8.5 billion) renewables unit, which spans from California to Poland to Brazil, is currently among the most coveted assets by utilities and private investors alike. But buying the sprawling clean-energy portfolio won’t be easy.
First, there’s the competition. Blackstone Group LP’s infrastructure fund, which is anchored by Saudi Arabia’s Public Investment Fund, is keen to buy part or all of EDP Renovaveis SA, in particular the firm’s U.S. portfolio, according to people with knowledge of the matter. The firm held preliminary discussions last year, they said.