Portuguese utility EdP-Energias de Portugal (EDP.LB) plans to list its renewables unit in early June, Diario Economico reports Thursday, citing people close to the process.
EDP recently announced it would float up to 25% of its renewables unit EDP Renovaveis in the second quarter of this year to finance its growth strategy, but adverse market conditions fueled speculation the company might delay the listing.
EDP will only consider a plan B to sell stakes of the unit directly to institutional investors if market conditions deteriorate further, according to the report.