Repsol, EDPR to Swap Stakes in UK Projects

Repsol and EDP Renováveis ​​(EDPR) have reached an agreement to swap stakes in two offshore wind project with a total capacity of 1.9GW.

According to the agreement, EDPR will acquire 33% stake in the Moray offshore wind project and sell the 49% stake in the Inch Cape offshore wind project.

When the transactions are finalised, Repsol will own 100% of Inch Cape project while EDPR will have a total control of Moray project.

The companies are waiting for the approval from The Crown Estate.

Both projects, located in the UK, were approved by the Scottish government last year.