Spanish renewables company Grenergy Renovables SA (BME:GRE) has finalized the sale of 77 megawatts (MW) of wind power assets in Peru, transferring them to their new owner, as stated in a stock market filing on Sunday.
The transaction involved the transfer of 37 MW of operational wind farms and 40 MW of projects in development to power producer Engie Energia Peru SA (LIM:ENGIEC1) in a deal valued at USD 60.3 million (EUR 55.7 million) in equity terms. Grenergy also stands to receive an additional USD 3.2 million through earn-outs based on the achievement of certain milestones.
The assets included in the sale comprise the operational Duna Huambos complex, consisting of two wind farms, as well as the Naira I and II projects that are still in development. This transaction aligns with Grenergy's asset rotation strategy in Peru, which recently included the sale of the 97-megawatt peak (MWp) Matarani solar project to Malaysian green power producer Yinson Renewables for USD 90 million.
“This sale marks another strategic step in Grenergy's asset management plan, allowing us to focus on new projects and opportunities that contribute to our growth and the expansion of renewable energy in Peru and beyond,” commented a spokesperson from Grenergy Renovables.
