![](https://www.waterpowermagazine.com/wp-content/uploads/sites/9/2024/07/acciona_energia-sells-hydro-porfolio-spain-elawan-energy-430x215.jpg)
ACCIONA Energía has agreed to sell its Spanish hydroelectric portfolio to Elawan Energy, a subsidiary of ORIX Corporation, for €287 million. The deal is expected to close by the end of the year, pending foreign direct investment approval.
The portfolio, owned by Acciona Saltos de Agua, S.L. (ASA), includes 23 hydroelectric plants with a combined capacity of 175MW. These plants are located in Aragón, Cantabria, and Cataluña and have an average remaining concession life of 23 years.
This sale will result in a capital gain of approximately €170 million for ACCIONA Energía. The hydro portfolio, which accounts for 20% of ACCIONA Energía’s hydro capacity, produces about 500GWh annually. It comprises both reservoir (77%) and run-of-river (23%) plants, varying from small to medium-scale hydropower assets.
ACCIONA Energía CEO Rafael Mateo commented: “This transaction highlights the quality of our generation portfolio and represents an important milestone in our asset rotation strategy, bringing to light the divergence between public and private market valuations.”
Elawan CEO Dionisio Fernández stated: “By adding this hydropower portfolio to our existing renewable energy sources, we aim to further stabilize our future power production and build a long-term earnings base.”
Crédit Agricole served as the financial advisor to ACCIONA Energía for this transaction.