EDPR France has a portfolio of 33 operational wind farms with a combined capacity of 334MW.
As per the terms of the deal, the private equity unit of EFG Hermes will manage the investment vehicle and EDPR France will retain operational control over the acquired assets.
About half of the $208m buyout will be funded through an acquisition finance facility secured from several European banks.
EFG Hermes will provide seed capital of around $5m for the equity component of the transaction and the remaining amount will be raised from the GCC.
EFG Hermes co-chief executive officer Karim Awad said: "Our first investment beyond the borders of the Middle East and Africa is a natural outgrowth of our emphasis on infrastructure private equity and, moreover, marks the launch of our direct investment strategy.
"Our interest in infrastructure investing generally — and in renewable energy in particular — reflects our aim of being catalysts for sustainable development while simultaneously generating attractive returns for our shareholders and co-investors alike."
EDP Renewables CEO Joâo Manso Neto said: "I am pleased to announce this new partnership and the breakthrough agreement with EFG Hermes, which is part of the asset rotation plan that the company has been implementing in order to deliver its growth strategy."
EDPR France has a 15-year feed-in-tariff arrangement with the French government’s majority-owned Électricité Réseau Distribution France.
