Acciona Energy evaluates the sale of its hydroelectric business, valued at 1 billion euros
Acciona Energy is considering selling its hydroelectric business, evaluated at 1 billion euros, according to a report by Reuters published on Thursday. In its latest semi-annual results, the company led by Jose Manuel Entrecanales managed 867 megawatts (MW) of renewable energy, of which it sold 287 million to Elewan, a subsidiary of Orix Corporation, by the end of last July.
Search for a buyer for the hydroelectric portfolio
The renewable energy subsidiary of Acciona has put its bankers in touch with potential buyers for this business. When asked by this newspaper, Acciona Energy declined to comment.
In July, Entrecanales stated that the company had received formal offers for many of its assets and added that they would prioritize operations that offered the best value and strategic fit. Acciona Energy expects to receive non-binding offers for its hydroelectric business early next November.
Sustainable Financing for the Gulf
Acciona has closed a new sustainable financing of 300 million euros to develop projects aimed at reducing CO2 emissions and promoting sustainable growth in the countries of the Gulf Cooperation Council (GCC).
The financing margin is linked to a local impact initiative aimed at promoting sustainable construction by supporting local suppliers to develop and produce carbon-neutral or low-carbon materials (such as steel, cement, or concrete).