Gamesa exceeds 2014 asset disposal proceeds target of €100 million with the sale of a photovoltaic power plant in Spain

Gamesa, a global technology leader in the renewable energy industry, has raised more than the targeted €100 million of proceeds from asset sales in 2014.

This target was surpassed with the close in December 2014 of the sale of a 10-MW photovoltaic solar plant located in the Cordoba town of Almodóvar del Río to Plenium Partners and Warwick Capital Partners for €40 million.

This agreement, marking the first photovoltaic asset sale to close since Spain’s new renewable regulatory framework came into effect in 2014, comes on the heels of other disposals concluded last year that contributed to business cash generation and, by extension, capital structure reinforcement, poising the company for profitable growth.