Source: EP
ACS has put up for sale its portfolio of renewable energy assets, located both in Spain and abroad, which total a total capacity of 1,757 megawatts (MW) net, the group reported.
The divestment of the group chaired by Florentino Pérez affects wind farms and thermosales plants that are in operation or under construction, valued at between 4,500 and 5,000 million euros, as indicated to Europa Press in market sources.
Specifically, ACS has placed the 'for sale' sign in wind farms that total a capacity of 1,408 MW (1,056 MW of them in Spain and 352 MW abroad, in Portugal), and in solar thermal plants, all of them in the national market, of 349 MW net total power.
The divestment does not affect the portfolio of 1,850 MW of renewable energy facilities that ACS has in the project and financing phase. These facilities basically consist of wind farms, among which the first in the United States and Greece stand out.
ACS framed the operation, agreed at the meeting of its Executive Committee on Thursday, in its strategy of rotation of assets and infrastructures "that have entered or will enter into operation."
However, the company begins this sale process while it is pending to address its objective of raising to 20% the 12.3% stake that it currently has as Iberdrola's first shareholder.
ACS needs to reach this percentage or enter the board of directors of the electricity company to consolidate in its accounts its investment in this company, of which so far only the dividend is recorded.
The request of the construction and services company to have the representation that corresponds to it in the board of directors of Iberdrola is currently waiting for the courts to rule on the matter.
ACS's renewables business has been one of the arguments put forward by Iberdrola to justify its rejection that the construction and services group sits on its highest management body.
The company chaired by Florentino Pérez has always explained that its presence in this business, as in the infrastructure concessions, is limited to the construction and commissioning of the assets.
REVENUES OF 230 MILLION.
ACS entered 230 million euros with the operation of green energy facilities in the first nine months of the year, an amount that shows an increase of 55.1% compared to a year earlier.
Likewise, between January and September the company chaired by Florentino Pérez invested 672 million euros in the promotion of 'green energy' facilities, which it develops through its industrial subsidiary Cobra.
IN FULL TAKEOVER BID TO HOCHTIEF.
The announcement to divest the sale of green energy assets comes in the middle of a takeover bid to Hochtief. The group hopes to close this operation in January, with which it seeks to raise to around 50% the 29.9% stake that it currently also has as the first shareholder of this German construction group.
It also comes after ACS closed the sale of its logistics subsidiary Dragados SPL for 720 million euros so far this year, and part of its stake in the Abertis infrastructure concessions group, for 2,863 million euros, in an operation that reported capital gains of 520 million euros to ACS. (EUROPA PRESS)
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