Portuguese power major EdP is expected to buy renewable energy developers Nuon España (DESA) which owns 230 MW of Spanish wind generation capacity.
NEO, the renewable energy subsidiary of EdP, is to purchase the company for €478 million, considerably less than the anticipated price of €600 million.
The deal also includes construction rights that could add a further1100 MW of capacity, pushing EdP, which already owns some Spanish wind capacity, the second largest wind generation firm in the country behind Iberdrola.
Regulatory approval for the purchase is reportedly not required.