Acciona Energia Plans Giga Asset Rotation Amid 84% Profit Drop

• Acciona Energia explores selling 6 GW of global capacity for financial flexibility, despite profit drop. Still expanding renewable portfolio with 1,734 MW under construction.

Spanish renewables company Acciona Energia is considering selling around 6 GW of its global capacity in order to provide financial flexibility in the medium term. This includes potentially putting close to half of its total installed capacity in Spain and abroad up for sale. The company is currently working on several potential transactions, with the first sale agreement already announced for its hydroelectric plants in Spain.

The company's first-half-year financial results showed a significant drop in profit, with attributable net profit plunging by 84% year-on-year to EUR 65 million. This was mainly due to lower revenues from power generation, as pool prices in Spain hit record lows and resulted in heavy curtailments. Overall EBITDA also decreased by 39% to EUR 419 million, reflecting the challenging market conditions.

Despite the financial challenges, Acciona Energia continues to expand its renewable energy portfolio, with 1,734 MW of wind and solar farms currently under construction globally. The company aims to install 1.7 GW of renewables in the next 12 months for the second consecutive year. With a total installed capacity of 13,944 MW and a consolidated capacity of 12,329 MW, Acciona Energia remains a key player in the renewable energy sector.

Is Acciona Energia selling 6 GW of global capacity to improve financial flexibility?

• Acciona Energia is considering selling around 6 GW of its global capacity to improve financial flexibility in the medium term.
  
• This includes potentially putting close to half of its total installed capacity in Spain and abroad up for sale.
  
• The company has already announced the sale agreement for its hydroelectric plants in Spain.
  
• The company's first-half-year financial results showed a significant drop in profit, with attributable net profit plunging by 84% year-on-year to EUR 65 million.
• Lower revenues from power generation, as pool prices in Spain hit record lows, were the main reason for the profit decrease.
  
• Overall EBITDA also decreased by 39% to EUR 419 million, reflecting the challenging market conditions.
  
• Despite the financial challenges, Acciona Energia continues to expand its renewable energy portfolio, with 1,734 MW of wind and solar farms currently under construction globally.
  
• The company aims to install 1.7 GW of renewables in the next 12 months for the second consecutive year.
• With a total installed capacity of 13,944 MW and a consolidated capacity of 12,329 MW, Acciona Energia remains a key player in the renewable energy sector.