MADRID, 18 Oct. (EUROPA PRESS) –
Grenergy has agreed to sell a portfolio of 297 megawatts (MW) from two photovoltaic assets located in Spain to Allianz Capital Partners on behalf of the Allianz insurance companies and other institutional investors for an enterprise value of €270.6 million. including the ‘turnkey’ project of both plants, the company reported.
The sale of these two parks is part of the ‘Valkyria’ project, which began to be structured at the beginning of the year and is progressing at a good pace.
The company recently announced the closing of the first milestone of this plan, which has been articulated in different phases with the aim of satisfying the needs of investors and maximizing the value of the assets, with the agreement before the summer for the sale of the photovoltaic park of ‘Belinchón’, of 150 MW located in Cuenca (Spain) to a European independent renewable energy producer (IPP).
The closing of this new transaction, which is subject to compliance with customary conditions and is the largest operation carried out to date by Grenergy, is expected to occur on June 30, 2025.
The entry into operation of both plants will foreseeably be in the second half of 2024, and all energy income until the closing date will be for Grenergy. Likewise, the renewable group will carry out operation and maintenance activities, as well as asset management during the useful life of the plants.
The resources derived from the ‘Valkyria’ operation, which contemplates the divestment of up to 1.1 gigawatts (GW) of solar assets in Spain, will finance the strong growth expected in the coming years. On November 21, the company plans to update its strategic plan at its first Capital Markets Day.
Allianz Capital Partners is one of the asset managers of the Allianz Group, which is one of the world’s leading insurers and asset managers.
The CEO of Grenergy, David Ruiz de Andrés, pointed out that this first major agreement with Allianz Capital Partners “highlights the trust” that top-level companies place in the group, “hoping that it will be the beginning of a solid strategic partnership that can be extrapolated.” to other markets”.
