Image by Iberdrola looking to sell 49% in 1.2 GW of wind, solar in Spain - report
- Spanish electric energy Iberdrola SA (BME: IBE) has actually employed Barclays Plc (LON: BARC) to aid it land a minority investor in some 1,200 MW of wind and also solar energy assets in Spain, Spanish business news outlet Expansion reported on Monday citing unidentified market resources.
The financial investment bank is indicated to function as an economic advisor as Iberdrola looks to unload a 49% risk in the portfolio to green energy-focused sovereign and infrastructure funds and also insurance provider. According to Expansion, the energy is in search of an easy companion that would not interfere in its management, yet would certainly contribute funds to speed up the project growth.
In the portfolio are 200 MW of running solar farms, while the remainder are projects in development-- 80% of them solar PV, as well as 20% wind power, the report states.
Expansion claimed its sources approximate the portfolio could be worth EUR 500 million (USD 484.4 m). Iberdrola, which declined to comment on the news report, would certainly use the funds to continue creating new projects, sources for the outlet claimed.
Information on the possible purchase comes equally as Iberdrola prepared to sell 49% in its 350-MW Wikinger offshore wind ranch in Germany to Swiss infrastructure capitalist Energy Infrastructure Partners (EIP).
