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Spain

Spain

Italian-Spanish venture picks up 1300 MW

Wind plant operator ENEL Unión Fenosa Energías Renovables (EUFER) has placed the winning bid for a Spanish wind power portfolio auctioned by competitor Corporación Eólica Aragonesa (CEASA). The portfolio consists of 300 MW of wind capacity either online or building and another 1000 MW in development. EUFER is a renewables joint venture in Spain between Italian utility ENEL and Spanish utility Unión Fenosa. The starting price for the assets was EUR 300 million. Both companies decline to specify the purchase price until the deal is finalised. EUFER's offer beat bids from Spain's top utility, Endesa, and Portuguese counterpart Energías de Portuga, which were also shortlisted. A bid from global wind asset owner Babcock & Brown, which has just signed to buy nearly 300 MW of wind plant in the United States from Spain's Gamesa, failed to reach the shortlist. Babcock & Brown trades on the Australian stock exchange. Spain's top two wind operators, Acciona Energía and utility Iberdrola showed initial interest in the CEASA portfolio before bowing out. CEASA, one of Spain's veteran developers, called in Spanish bank Banco Santander, to broker the sale. Some CEASA assets are shared by Danish Oil and Natural Gas after its purchase of Danish utility Energi E2, which has commissioned Rothschild bank to sell its part.

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