Endesa buys 626 MW of hydroelectric power from Acciona Energía

Endesa has reached an agreement with Acciona Energía to buy 626 megawatts (MW) of hydroelectric power plants in Spain worth €1 billion, both companies said.

Specifically, Acciona Energía sells 100% to Corporación Acciona Hidráulicain a transaction that will generate an estimated capital gain of €620 million. As the company told the National Securities Market Commission (CNMV), the operation is debt-free and is scheduled to close in the first half of 2025, once the necessary approvals have been received.

Acciona Hidraulica Corporation’s portfolio consists of 34 hydroelectric power plants with a total installed capacity of 626 MW. (MV). These plants are located in Aragon, Soria, Valencia and Navarre and have long-term concession agreements with a remaining average life of about 30 years. These are reservoir stations (56% of capacity), flow stations (30% of capacity) and pumping stations (14%) with an annual output of about 1.3 terawatt-hours (TWh).

Acciona Energía said the operation “is part of its asset rotation strategy.”. This is therefore in addition to the sale of 175 MW of hydraulic energy concluded a few days ago to Elawan Energy, a subsidiary of Orix Corporation, for 293 million euros with a capital gain of 180 million.