EDP Renováveis, a Spain-headquartered renewable energy producer majority-owned by Portugal-based EDP, has signed a Sale and Purchase Agreement with Prosolia Energy. The deal is to sell a 100% equity stake in a 190 MW AC (229 MW DC) solar portfolio in Spain for an estimated enterprise value of €0.16 billion (~ $0.19 billion). According to EDP Renováveis, the portfolio has five operating solar plants in Andalucía and Castilla y León, each with an average asset life of less than one year and operating under long-term PPA. The transaction is subject to regulatory and customary conditions and is expected to be completed in 2025. EDP Renováveis has said the sale has secured about €0.8 billion (~ $0.93 billion) toward its €2 billion (~ $2.32 billion) asset rotation proceeds target for 2025, as disclosed under Article 17 of Regulation (EU) No. 596/2014. Earlier this year, EDP had also entered into a 170 MW hybrid solar-plus-storage PPA in Spain with Zelestra.