ACCIONA Energía sells hydro portfolio to Endesa for €1 billion
Author: PPD Team Date: November 22, 2024
ACCIONA Energía has signed an agreement with Endesa for the sale of 100% of Corporación Acciona Hidráulica, S.L., for €1 billion (enterprise value).
The debt-free transaction is expected to generate capital gains of €620 million, with completion anticipated in the first half of 2025, pending antitrust and foreign investment approvals.
The portfolio includes 34 hydroelectric plants with a total installed capacity of 626 MW, located across Aragón, Navarra, Soria, and Valencia in Spain.
The plants operate under long-term concession agreements, averaging 30 years of remaining duration.
The portfolio comprises reservoir-based plants (56%), run-of-river plants (30%), and pumped-storage facilities (14%), with an annual production of approximately 1.3 TWh.
In a related development, ACCIONA Energía recently agreed to sell its Spanish hydroelectric assets under Acciona Saltos de Agua, SL to Elawan Energy for €287 million.