Endesa, through Endesa Generación, has completed the acquisition of the entire share capital of Corporación Acciona Hidráulica S.L. (“CAH”) from Corporación Acciona Energías Renovables, a company of the Acciona Group. The purchase price amounts to around 1,000 million euros, and includes the usual adjustments in this type of transaction.
“This acquisition involves investing in high-quality renewable assets and offers us important operational synergies. It is also fully aligned with our strategy as a vertically integrated company, allowing us to optimize the profile of our generation mix,” says José Bogas, CEO of Endesa.
CAH owns 34 hydroelectric plants located in the northeast of Spain. They add up to a total installed capacity of 626 MW, mostly modular, which generated around 1.3 TWh in 2023.
Following the closing of the transaction, Endesa has reached an installed hydroelectric capacity of more than 5.3 GW in the Iberian Peninsula, which represents a total renewable capacity of around 10.7 GW.
The transaction has been closed after fulfilling the suspensive conditions established in the agreement signed on November 15, specifically obtaining the authorization of the National Commission of Markets and Competition and the authorization of foreign investments from the Council of Ministers.
The price for the acquisition of the entire share capital of CAH has been financed with available credit lines.
Endesa is the leading electricity company in Spain and the second in Portugal. In addition, it is the second gas operator in the Spanish market. Endesa is an integrated electricity generation, distribution and marketing business, and offers value-added services aimed at the electrification of energy uses in homes, businesses and public administrations. Endesa is committed to the United Nations SDGs and corporate social responsibility. It also operates in this last area through the Endesa Foundation. Our team has around 9,000 employees. Endesa is part of Enel, the largest electricity group in Europe.
Enel is a multinational in the energy sector and one of the main integrated players in the global electricity and renewable energy markets.
At a global level, it is the largest private operator of renewable energies, the first operator of electricity distribution networks in number of customers and the largest retail operator in customer base. In addition, the Group is positioned as the largest European electricity company by ordinary EBITDA[1].
Enel, with a presence in 28 countries, generates energy thanks to its more than 89 GW of total installed capacity.
Through Enel Grids, its global business line dedicated to the management of electricity distribution networks, it supplies electricity through an infrastructure of 1.9 million kilometres, serving more than 69 million end users worldwide. Enel Green Power is the renewable energy division of the Enel Group. It has a total capacity of around 65 GW and a generation mix that includes wind, solar, geothermal and hydroelectric energy. It also includes energy storage facilities located in Europe, America, Africa, Asia and Oceania. Enel X Global Retail is the business line dedicated to serving customers around the world with the aim of offering customized products and services that respond to their energy needs. It is also dedicated to promoting a more responsible and sustainable use of energy. Worldwide, Enel supplies electricity and integrated energy services to more than 55 million customers, while offering flexibility services totaling 9 GW and managing around 3 million light points. In addition, it has 28,400 public charging stations for electric mobility.
ACCIONA Energía is the largest 100% renewable and fossil-free energy company in the world. It has more than 14 GW of renewable energy and is present in 25 countries. With more than 30 years of experience, ACCIONA Energía offers a broad portfolio of tailored energy solutions so that its corporate and institutional clients can meet their decarbonisation objectives. ACCIONA Energía is governed by the most demanding environmental, social and corporate governance (ESG) criteria. ACCIONA S.A., a leading global company in the provision of regenerative solutions for a decarbonised economy, is the majority shareholder of ACCIONA Energía.
