Danish wind turbine manufacturer Vestas has agreed to sell Gebeleisis and Hrabrovo wind power plants, located in Romania and Bulgaria respectively, for €127m.
This move comes as the development and ownership of projects is not part of Vestas’ regular business model. Both the projects were co-developed by the company.
Located in the Galati region, the 70MW Gebeleisis wind power plant, which has been fully operational since February 2013, is valued at around €109.2m.
The 14MW Hrabrovo wind power plant, located in the region of Dobrich, has been fully operational since March 2012. It is valued at about €17.6m.
These transactions are expected to be completed by the end of August 2013. However, the Hrabrovo transaction is subject to approval by the Bulgarian competition authority.
Vestas noted that the sale of these two wind power plants will not have any impact on its other operations, over the future.