Wind Energy

ACS sells another 11 wind power plants with 442.5 MW in Spain

ACS has signed an agreement with funds advised by Bridgepoint different for the sale of its holdings in eleven wind farm facilities totaling 636.3 million euros, ACS reported to the National Securities Market Commission (CNMV). These wind turbines have a capacity of 442.5 megawatts (MW) and are located in Castilla y León. The transaction is subject to the relevant competition authorizations, administrative and funders.

This is the fourth operation for the sale of renewable energy assets held by ACS since the end of 2010, which has allowed him to enter so far nearly 1,100 million euros. In August, the group chaired by Florentino Perez also reported the sale of its stakes in nine wind power farms with a total of 290.7 million euros.

These assets have a total enterprise value of 223.4 million euros, which adds a value of the equity of ACS of 67.3 million euros. The nine wind energy farms have a capacity of 214.85 MW and 140.3 MW gross and are located in Galicia, Castilla-La Mancha, Catalonia and La Rioja.

Both operations occur after the beginning of last July Fenosa Gas Natural’s acquisition of ACS another five wind farms with total capacity of 95.5 megawatts. The company announced the same day signed a contract with two companies controlled by funds RREEF Infrastructure Fund LP Pan European Antin Infrastructure Partners to sell 90% stake in concentrating solar thermal power plants Andasol Andasol I and II.

The company estimated that the total sales price of both operations was between 130 and 160 million euros to be calculated on a total enterprise value of between 920 and 955 million euros. ACS goes well with its strategy to divest its renewable assets, which attributed the market value at the time set close to the 5,000 million euro, focus on managing their investment in Iberdrola, which owns 19% of the capital, and enter the battle for its board.

By José Santamarta, www.evwind.com