Acciona Energía sells hydro portfolio to Endesa for €1 B
Spanish energy company Acciona Energía has sold 100% of the Corporación Acciona Hidráulica, S.L. to Endesa for €1 billion ($1.06 billion).
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Spain, Madrid: Spanish energy company Acciona Energía has sold 100% of the Corporación Acciona Hidráulica, S.L. to Endesa for €1 billion ($1.06 billion). The portfolio includes 34 hydroelectric plants with a total installed capacity of 626 MW. It is comprised of reservoir (56% of capacity), run-of-river (30% of capacity), and pumped-storage (14%) hydroelectric plants, with an annual production of 1.3 TWh.
The plants are in the Spanish regions of Aragón, Navarra, Soria and Valencia, and have long-term concession agreements with an average remaining life of around 30 years. The transaction is set to generate estimated capital gains of €620 million ($654 million) and is anticipated to close in the first half of 2025. It is part of Acciona Energía’s asset rotation strategy and comes after the sale of 175 MW of hydropower to Elawan Energy, a subsidiary of ORIX Corporation, for €293 million ($309 million) earlier this month.
Endesa Generación is part of the Enel Group. After the completion of the acquisition, the Enel Group will reach an installed hydro capacity of over 5.3 GW on the Iberian peninsula, and a total renewable capacity of 10.7 GW.
Source: Power Engineering International
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