Acciona Energía Divests Hydro Assets for €287 Million

Corporacion Acciona Energias Renovables SA (ES:ANE) has released an update.

Acciona Energía has agreed to sell its hydroelectric group, Acciona Saltos de Agua, S.L., to Elawan Energy for €287 million, expecting a closure by year’s end and a capital gain of about €170 million. The deal includes 23 hydroelectric power stations totaling 175MW across Spain, signifying a strategic asset rotation for Acciona and a bolstering of Elawan’s renewable energy portfolio. This sale represents 20% of Acciona Energía’s hydraulic capacity and underscores the value of the company’s energy assets.

For further insights into ES:ANE stock, check out TipRanks’ Stock Analysis page.