Enel buys hydroelectric crops in Spain for 1 billion | EUROtoday

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Enel acquires 34 hydroelectric crops in Spain, probably the most worthwhile sectors for electrical energy era, investing round 1 billion euros. The settlement was reached with Corporación Acciona Energías Renovables, an organization belonging to the Acciona group, for the acquisition of all the share capital of Corporación Acciona Hidráulica. The worth of the operation will likely be topic to cost changes, ordinary for any such operation, in consideration of the time that may elapse till the completion of the operation.

Purchased 34 hydroelectric crops

The portfolio of crops held by the Acciona subsidiary is made up of 34 hydroelectric crops, positioned within the north-east of Spain, for a complete put in capability of 626 megawatts, most of which will be modulated, which in 2023 generated roughly 1.3 terawatt hours. According to the observe launched by the Italian group, «the settlement will permit Enel to consolidate its main position in renewables at a world degree, additional growing the share of the gross sales portfolio coated by its renewable manufacturing in Spain, with the purpose of maximizing the returns generated by the built-in presence alongside all the worth chain”.

In Spain the hydroelectric capacity will be 5.3 GW

Following the completion of the acquisition, the Enel Group will reach an installed hydroelectric capacity of over 5.3 gigawatts in the Iberian peninsula, for a total renewable capacity of approximately 10.7 gigawatts. The closing of the operation, expected in the first half of 2025, is conditional on the issuing of authorization from the competent Antitrust Authority and on obtaining authorization from the Spanish Government for foreign investments.