Iberdrola is considering selling a stake in its US renewable-energy assets, totaling 700 MW.
💼 Sale Details:
– 400 MW Solar, 300 MW Wind
– Under construction with power contracted to major tech firms
– Sale process starts in July, aiming for an agreement by the end of 2024
– Sell-side advisor: Bank of America
🔄 Iberdrola’s €12bn Asset Rotation Strategy for 2024-26:
-- The sale is part of Iberdrola’s effort to keep net debt in check, while funding future initiatives.
-- The company expects net debt to rise from €45bn in 2022 to €57.5bn by 2025 as a result of the €47bn Strategic Investment Plan.
-- Iberdrola views asset rotation as key to its plans, with ~€8.1bn of the targeted €12bn already achieved.
💰 Major Divestments This Year:
– 674 MW portfolio in Spain for $335mn
– 644 MW portfolio in Spain for $217mn
– 80 MW wind farm in Romania for $94mn
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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