ContourGlobal closes sale of 49% stake in Spanish concentrated solar power portfolio
Date
June 07, 2019
Type
M&A Transactions
Subtype
Transaction completed
Countries
Spain
Subsectors
Concentrated Solar
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ContourGlobal plc has announced that it has closed the transaction with Credit Suisse Energy Infrastructure Partners AG.
The EUR134 million (US$149.9 million) deal involves the 49% stake sale in ContourGlobal's 250 MW portfolio of five 50 MW Concentrating Solar Power (CSP) plants in South-West Spain.
Developed and commissioned between 2009 and 2012, the CSP assets produce clean energy equivalent to the electricity demand of around 161,000 homes.
Acquired from Acciona in May 2018, the plants have an average remaining regulated lifetime of 18 years and are regulated under the Spanish renewable remuneration scheme, guaranteeing long-term stable and regulated cash-flows.
