ANA (IBEX 35) 90,1500 (-1,10 %)

What are you searching?

ACCIONA Energía sells the owning company of an operating wind farm in South Korea for 114 million euros

11/11/2013

The operation, which includes a net debt of 20 million euros, is part of an action plan designed by the company to offset the effects of regulatory changes in Spain.

ACCIONA Energía, through its subsidiary ACCIONA Energía Inversiones Corea S.L., has formalized the sale of 100% of the company that owns the 61.5-megawatt Yeong Yang I wind farm to a South Korean investment fund, for a gross sum of 162 billion KRW (114 million euros).

The operation, which includes a net debt of 28 billion KRW (20 million euros), is part of a strategy by ACCIONA to divest non-strategic assets with the aim of offsetting the economic impact of regulatory changes in the Spanish electric power market.

The transaction is subject to a number of conditions and is expected to be finalized before December 31st 2013.

The Yeong Yang wind farm, wholly owned by ACCIONA, was grid connected in June 2009. Located in the region of North Gyeongsang, it has forty-one 1.5-MW turbines of ACCIONA Windpower technology, with a tower height of 80 meters and a rotor diameter of 77 meters.

The operation is the first divestment carried out by ACCIONA Energía in accordance with an action plan, announced by the ACCIONA Group last March, that aims to reduce costs and increase efficiency and includes the disposal of non-strategic assets.

Move up

YOU'RE JUST ONE STEP AWAY!

Please, confirm your subscription on the email we have sent you and your registration will be completed.

YOU'VE ONLY GOT ONE STEP LEFT!

Please confirm your subscription in the email we just sent you to complete the registration and you will be able to download your ebook.

YOU ARE ALREADY SUBSCRIBED TO THE NEWSLETTER!

If you've missed our content, try checking your junk mailbox and
add us to your address book so you can enjoy them without any problem.

An error has occurred.

Your email has been unsubscribed. You will not receive more newsletters, unless you subscribe again. Thank you very much