Enel to acquire Spanish wind energy firm for €178m

5 February 2018 (Last Updated February 5th, 2018 10:28)

Through its affiliate Enel Green Power España (EGPE), Italian energy company Enel has signed an agreement to acquire Parques Eolicos Gestinver from Spanish companies Elawan Energy and Genera Avante for €178m.

Through its affiliate Enel Green Power España (EGPE), Italian energy company Enel has signed an agreement to acquire Parques Eolicos Gestinver from Spanish companies Elawan Energy and Genera Avante for €178m.

Parques Eolicos Gestinver owns five windfarms located in the regions of Galicia and Catalonia totalling around 132MW of capacity.

Enel Green Power Global Renewable Energies Division head Antonio Cammisecra said: “The acquisition of five windfarms will enable us to consolidate our return to renewables growth in Spain after the two major tender wins from last year.

“These high-quality assets are already operational and we are looking forward to further boosting their performance.”

“These high-quality assets are already operational and we are looking forward to further boosting their performance through their incorporation in our group’s operation and maintenance system and in our integrated energy sale strategy.”

The Galician windfarms are all located in the Lugo Province and have an aggregate capacity of around 57.5MW.

In Catalonia, the Les Forques and Montargull windfarms have a combined capacity of 74MW and are located in Tarragona Province.

Once the transaction is complete, EGPE will have an increased installed capacity of more than 1,806MW in Spain.

Subject to certain closing conditions, the transaction is scheduled to be finalised in the first half of this year.

Last year, EGPE secured tenders for 879MW of new renewable capacity, with a total investment of more than €870m.

The company’s portfolio currently includes around 4TWh of emission-free energy per year.