Capital Energy puts 1,500 MW of wind power up for sale in Spain

Capital Energy has put up for sale a portfolio of more than 1,500 megawatts (MW) of wind projects in an advanced stage of development in Spain.

These projects, which in most cases already have a favorable Environmental Impact Statement (DIA), as well as the mandatory administrative authorizations, also contemplate the possibility of installing 500 MW of solar through hybridization.

Specifically, these more than 2,000 MW of capacity offered for sale by the group founded by Jesús Martín Buezas represent less than 10% of the company’s renewable portfolio, which currently reaches 25 gigawatts (GW), and represents around 20 % of that in a more advanced stage of maturation, which is around 10 GW.
Likewise, there is the possibility that the acquirer, if, for example, they were an investor who did not yet have a growth pipeline in renewables in Spain, could acquire another 2,000 MW of wind power, although in this case from that part of the portfolio of projects that are not so mature and with such an advanced state of development.
The sale, which the company plans to close before the end of this year, will give Capital Energy the necessary financial strength to continue developing its sustainable business platform based on renewable energy.

In this sense, the renewables group plans to promote the start-up of renewable generation facilities linked to industrial clients in the medium term, not only based on mature technologies such as onshore wind and photovaltaic solar, but also with more advanced technologies. innovative companies such as offshore wind power and storage solutions, as well as other businesses, such as hydrogen -through Quantum Hydrogen- or data centers -through Box2Bit-, in which these will be key to combining sustainability and competitiveness.

In 2021, Capital Energy explored going public, although it finally decided to suspend it due to the difficult market conditions that prevailed at the time.

Already last year the group closed a sale operation with the Austrian electricity company Verbund of 70% of five renewable facilities under development in Spain -four wind farms and a photovoltaic plant- which in total add up to a power of 171 MW.
This new portfolio put up for sale by Capital Energy thus joins the renewable ‘boom’ in Spain, with a flurry of operations in recent months. Among them, the takeover bid (OPA) launched by the French fund Antin to acquire 100% of Opdenergy for around 865 million euros stands out.

Likewise, in June, Interogo, a holding belonging to the foundation of the same name of the owners of Ikea, reached an agreement to enter the shareholding of Bruc, the renewable energy company of Juan Béjar, former CEO of FCC and current president of Globalvia. , acquiring 49% of a portfolio of 1,066 MW of photovoltaic solar generation assets operating and under construction for around 600 million euros.

Also just a month ago, Grenergy agreed to sell 100% of the 150 MW ‘Belinchón’ photovoltaic park located in Cuenca (Spain) to a European independent renewable energy producer (IPP), in the first milestone of its known plan as ‘Valkyria Project’, which contemplates the divestment of up to 1.1 gigawatts (GW) of solar assets in Spain.

Among the ‘big’ in the sector, in May, Naturgy acquired 100% of ASR Wind, belonging to the Ardian infrastructure fund, for a value of 650 million euros, which allows it to add 422 MW distributed to its renewable portfolio in 12 wind farms in operation in Spain, as well as 435 MW of photovoltaic solar parks under a hybrid regime that are being developed by AGR-AM, the renewable asset manager that works exclusively for Ardian in Spain and Latin America.

Iberdrola also sealed its strategic alliance with the Norwegian sovereign wealth fund, managed by Norges Bank Investment Management, to co-invest in 1,265 MW of new renewable capacity in Spain and, in addition, both companies are working to expand the alliance by more than 500 MW renewables in the Iberian Peninsula, among other operations.

Likewise, this week EDP Renewables (EDPR) has closed the sale of a 257 MW wind portfolio to the Austrian Verbund for 460 million euros.