UPDATE – Grenergy confirms stake sale in Spanish photo voltaic property

Spanish renewables agency Grenergy Renovables SL (BME:GRE) on Tuesday addressed media reports that it was planning to promote a minority stake in a 1.1-GW photo voltaic portfolio in Spain, stating that the information was true however the end result of the sale course of was unsure.

“In relation to the information revealed in some media as we speak, relating to the minority stake sale of 1,1 GWp of photo voltaic tasks in Spain, Grenergy confirms the sale course of, not having the ability to assure, to this date, neither the exact phrases nor the chance of its success. Within the occasion of a passable settlement, Grenergy will talk such info to the markets “ the corporate mentioned in a bourse submitting.

Spanish enterprise newspaper Growth reported on Tuesday, citing unidentified sources, that Grenergy was trying to promote a 49% stake within the photo voltaic portfolio and had already employed PwC to assist it land a purchaser. The corporate’s plan was to maintain management over the property and stay in control of challenge growth and operation and upkeep, the report acknowledged.

The transaction can be too just like a deal that Spanish utility Iberdrola SA (BME:IBE) secured for its renewables portfolio in Spain, and Grenergy allegedly didn’t need its sale course of to be taking place on the identical time, in accordance with Growth.

Grenergy has extra renewable power tasks in Latin America than in Spain. Its Spanish photo voltaic portfolio consists of 1 operational 200-MW plant and 1,997 MW of tasks underneath development and in varied phases of growth, in accordance with a September 2022 replace.

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