ENCE Energía y Celulosa has agreed to sell 49% of the capital of Ence Energía S.L.U, excluding the Puertollano solar thermal power plant, to the infrastructure investment fund Ancala Partners LLP. ENCE will retain control of its subsidiary, with a remaining 51% stake, in addition to its 90% stake in the solar thermal power plant.
The agreed terms imply a value of the perimeter of the transaction of EUR886 million (US$1 billion), including EUR154 million (US$182 million) of debt. The agreed price will entail a potential capital gain of up to EUR184 million (US$217.7 million). These figures exclude the Puertollano solar thermal power plant.
Ence Energía is the largest generator of renewable energy with agricultural and forestry biomass in Spain, with an installed capacity of 266 MW distributed in 8 plants, in addition to the 50 MW of the Puertollano solar thermal power plant.
The agreed price for the 49% stake in Ence Energía, excluding the solar thermal power plant, amounts to EUR359 million (US$424.8 million). Of this amount, EUR225 million (US$266 million) would be collected at the closing of the transaction.
The closing of the transaction is pending ratification at the shareholders’ meeting called on December 14.
The SC Efficiency & Environment II Fund managed by Suma Capital has partnered with Efelec Energy through the purchase of 80% of its stake in Qoichi I. The objective is to provide the necessary res...
Read moreBruc Iberia Energy Investment Partners and Solarpack Corporación Tecnológica have opened a 100-MW PV plant in Alvarado-La Risca, Badajoz (Extremadura, Spain). The new PV plant, which co...
Read moreIberdrola has planned to build the Herrera Complex, which will be built in Burgos province, Spain. Siemens Gamesa has been awarded the contract to supply the first SG 4.5-145 wind turbines, with...
Read moreElawan Energy has secured a EUR92 million (US$108.9 million) loan for the project financing of its 250 MW Campanarios photovoltaic portfolio in Spain. Watson Farley & Williams (WFW) has advised E...
Read moreStatkraft has signed an agreement for the acquisition of 100 percent of the shares in Solarcentury Holdings and its subsidiaries. The main shareholders were previously Scottish Equity Partners, Vantag...
Read more