BRIEF-EDP Buys 50% Stake In a Portfolio Of Projects Of 278 MW In The U.S.

EDP – Energias de Portugal, S.A. :

* SAID ON TUESDAY, BUYS 50% STAKE IN A 278 MW SOLAR PORTFOLIO LOCATED IN THE U.S., THROUGH ITS 82.6% OWNED UNIT EDP RENEWABLES NORTH AMERICA

* SAYS EXPECTS TO MAKE A TOTAL NET EQUITY INVESTMENT IN THE PORTFOLIO OF ABOUT 150 MILLION DOLLARS FOR THE FULL CONSTRUCTION AND NET OF EXPECTED TAX EQUITY FINANCING

* SAYS THE PORTFOLIO, WHICH WAS DEVELOPED BY FIRST SOLAR INC, IS EXPECTED TO COME ONLINE OVER THE NEXT MONTHS

Source: reuters