Acciona Energia Sells Spanish Hydropower Portfolio to Elawan Energy for €287 Million

Credit: Acciona Energia

Acciona Energia has agreed to sell its Spanish portfolio to , a subsidiary of , for €287 million. The portfolio includes 23 operational assets, totaling 175MW of capacity, and is debt-free.

The hydropower facilities are located in the regions of Aragon, Cantabria, and Catalonia. The transaction, which is subject to mandatory prior authorization for foreign investment, is expected to close before the end of the year and will generate a capital gain of approximately €170 million for Acciona Energia.

The hydroelectric portfolio represents 20% of Acciona Energia's installed hydroelectric capacity and has an average annual production of around 500GWh. The facilities consist of small and medium-sized reservoirs (77% of capacity) and flowing plants (23% of capacity). These projects have long-term concession agreements with an average remaining life of 23 years.

“This transaction highlights the quality of our generation portfolio and represents an important milestone in our asset rotation strategy, highlighting the divergence between public and private market valuations,” said Acciona Energia Chief Executive Rafael Mateo.

Elawan Energy Chief Executive Dionisio Fernandez stated, “By adding this hydroelectric portfolio to our existing sources, we intend to further stabilize our energy production and build a strong long-term profit base.”

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