Acciona has agreed to sell its five solar thermal plants with a total capacity of 250MW in Spain to ContourGlobal for a combined value of €1.09bn.
The value of the deal could increase to €1.12bn, provided certain conditions are met.
The plants included in the deal are Palma del Río I and II in Córdoba, Majadas in Cáceres, and Alvarado and Orellana in Badajoz.
With the deal, Acciona aims to reduce its debt by €760m this year and rebalance its portfolio towards its international business, which will reach 50% of generation EBITDA.
The divestment is subject to approval by Spain’s National Markets and Competition Commission (CNMC) and by the general meeting of shareholders of ContourGlobal.
Following the completion of the deal, Acciona’s total portfolio of power generation assets will include 8,772MW of units, of which 84% are wind farms.
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By GlobalDataThe company is currently involved in the fields of photovoltaic business, as well as hydroelectric and biomass-fired capacity.
Acciona, through Acciona Energy International, also indirectly owns the 64MW Nevada Solar One plant in the US to produce solar thermal power.
In May last year, Acciona Energía started up the first hybrid plant for storing electricity in batteries in Spain.
The plant is part of a grid-connected wind farm and will be operated using simulation software developed by the company.
