27 Feb '18, 12pm

Britain's ContourGlobal to Buy Acciona's Spanish CSP Portfolio

Britain's ContourGlobal to Buy Acciona's Spanish CSP Portfolio

The total value of deal announced Tuesday could climb to €1.12 billion, if certain milestones are met, according to a news release from Acciona. ContourGlobal, an independent operator of power generation plants with facilities in 19 countries, said it will finance the purchase through a combination of project financing and cash on its balance sheet. The sale of the Spanish solar thermal assets (Palma del Río I and II in Córdoba, Majadas in Cáceres, and Alvarado and Orellana in Badajoz) will enable the Acciona group to reduce debt by €760 million this year. It will also rebalance Acciona 's portfolio towards its international business. Following the deal, Acciona will have a total of 8,772 MW of power generation assets, of which 84 percent are wind farms. The company also has a growing photovoltaic business, as well as hydroelectric and biomass-fired capacity. It will also ...

Full article: https://www.renewableenergymagazine.com/solar_thermal_ele...

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