ACCIONA Energía announced today the closing of the sale of 175MW of hydroelectric power in Spain to Elawan Energy, a subsidiary of ORIX Corporation, after meeting the foreign investment condition that the transaction was subject to.
ACCIONA Energía has received €293 million for the sale, generating capital gains of €180 million.
The 175MW transaction corresponds to a 100% sale of the Acciona Saltos de Agua, S.L. (ASA) group, comprised of 23 reservoir (77% of the capacity) and run-of-river (23% of the capacity) hydropower plants ranging from small to medium scale. The assets are located in Aragon, Cantabria and Catalonia, and have long-term concession agreements with an average remaining life of 23 years.
This transaction is part of the company's asset rotation strategy and highlights the value of its business.
