Portugal's Finerge to acquire shares in eight local wind parks

Portuguese renewable power company Finerge SA has signed a deal with Guild Investment Ltd to acquire stakes in eight wind parks in Portugal, the local media reported on Tuesday.

The acquisition is adding 162 MW of new capacity to Finerge's portfolio. The deal involves the purchase of 18.7% stakes in three wind farms -- Ventominho, Arga and Espiga, as well as 15.9% of the Sao Paio wind farm. The four wind farms have a combined capacity of 353 MW.

In addition, the company is buying 50% of four wind farms -- Arada, Montemuro, Pinheiro and Cabril, located in Aveiro and Viseu. The four wind parks have a total installed capacity of 191 MW.

As Finerge already had a stake in these wind farms and managed them, the latest deal gives the company full control of seven of the eight wind farms.

Completion of the operation is pending authorisation by Portugal's Competition Authority (AdC).

Once the deal is approved, Finerge's renewable installed capacity in the Iberian Peninsula will reach 2,133 MW.

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