Endesa Secures 626 MW Hydropower Assets from Acciona Energía for €1 Billion
Endesa has successfully negotiated a significant acquisition with Acciona Energía to purchase 626 megawatts (MW) of hydropower assets in Spain, marking a major move in the renewable energy sector. The deal, valued at €1 billion, was announced by Acciona's chairman, José Manuel Entrecanales. This transaction involves the complete divestiture of Acciona Energía's stake in Corporación Acciona Hidráulica, which signifies a notable shift in their corporate structure.
This acquisition is noteworthy not only for its scale but also because it is a debt-free transaction, providing Endesa with a clean financial slate for this investment. The deal is expected to generate an estimated capital gain of €620 million for Acciona Energía upon closing. Additionally, the completion of this agreement is anticipated to occur in the first half of 2025, pending the necessary approvals regarding competition laws and foreign investments.
The hydropower portfolio being acquired consists of 34 plants located across several regions in Spain, including Aragón, Soria, Valencia, and Navarra. These facilities collectively boast a total installed capacity of 626 MW and are backed by long-term concession agreements, with an average remaining lifespan of around 30 years.
This acquisition underscores the growing importance of hydropower in the renewable energy landscape and reflects Endesa's commitment to expanding its sustainable energy portfolio. As global interest in renewable sources continues to rise, this strategic move positions Endesa to leverage the benefits of clean energy and aligns with broader efforts to combat climate change.
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