Acciona Energía, the renewable energy subsidiary of Acciona, has put the bulk of its hydroelectric business, which encompasses around 650 megawatts (MW) and is valued at €1 billion, up for sale, according to Reuters.
This operation is part of ANE’s asset rotation plan, which already sold 175 MW of hydroelectric power to Elawan last July for €287 million, as reported by Expansión. This is the third operation that ANA has undertaken to reduce its debt, which rose by 84% in 2023 to €3.726 billion, and to maintain Fitch’s rating, which places the company’s rating at BBB-, a score that positions ANE among the most solvent companies, but just at the last step of investment grade.
The first was the sale of a portfolio of 680 MW of wind and solar assets that ANE brought to market at the end of 2023 for €500 million, but which it was unable to complete. The second was the sale of the aforementioned hydroelectric assets.
