SPANISH renewables player Acciona, developer of the Gunning wind farm, has put up for sale its 2.3GW global portfolio of operational renewables assets in a bid to balance the books and fund international expansion.
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The project developer and turbine manufacturer is looking for financial investors interested in taking minority holdings of up to 49% in wind and solar facilities located outside Spain.
The sale process is underway and initial undisclosed offers are being assessed, chief executive Rafael Mateo told journalists at the European Wind Energy Association annual conference in Barcelona.
Acciona posted a net loss of €1.97bn in 2013 as a result of retroactive regulatory changes in the Spanish electricity sector, which sought to claw back subsidy payments to many wind and solar farms.
As a result the company will “restrict its investment to the completion of projects already underway and incorporate financial partners into its international renewables portfolio.”
The move is also intended to “speed up growth” in emerging markets across Latin America and in India.
Acciona is meanwhile closing out turnkey deals for 425MW of wind and solar PV jobs in Australia, Canada, Chile and Mexico. The plants will come online between 2014 and 2016.
The company will also develop turnkey projects for companies in which it holds a minority share “if this facilitates the signing of contracts related to their construction and start-up”.
Source reNews
