AEI owns the majority of Acciona’s renewable energy generation assets. Credit: Acciona.

Spanish renewable firm Acciona and AXA Investment Managers – Real have signed an agreement with Kohlberg Kravis Roberts & Co (KKR).

As part of the agreement, the two parties will acquire a 33.33% equity stake, owned by KKR’s infrastructure funds, along with some co-investors, in ACCIONA Energía Internacional (AEI).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Acciona currently holds 66.67% equity stake in AEI and with this deal, it will grow to 80%. AXA IM – Real Assets will acquire the remaining 20% equity stake in AEI.

Through this deal, AXA IM – Real Assets will become an Acciona partner in the renewable energy sector.

Financial details of the deal have not been divulged by the companies.

Acciona chairman and CEO José Manuel Entrecanales said: “The relationship with KKR over the last few years has been very successful and productive, and we are grateful for its significant contribution and support.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We are excited to welcoming AXA as a new partner and we are sure that, together, we will be able to find opportunities for growth and co-investment in projects of common interest.

“This transaction, in such a difficult market context due to the global lockdown, is clear evidence of ACCIONA’s asset quality and of our strength as a global developer and operator of sustainable infrastructure.”

Created in 2014, AEI owns the majority of Acciona’s renewable energy generation assets outside Spain. It currently has 52 renewable energy assets with a combined net generation capacity of 2.3GW.

Completion of the deal is subject to customary regulatory approvals and expected to take place by December this year.

The deal was structured and facilitated by Real Assets Advisers (RAA).