Enel acquires 132MW Spanish portfolio

SPAIN: Enel has agreed to buy a company that owns five wind farms in Galicia and Catalonia totalling about 132MW for €178 million (US$221.6 million).

EGP España’s new acquisitions were installed in 2008-10, using 2MW Gamesa (now SGRE) turbines
EGP España’s new acquisitions were installed in 2008-10, using 2MW Gamesa (now SGRE) turbines

The utility’s local renewable energies subsidiary, Enel Green Power (EGP) España signed the agreement to buy 100% of Parques Eolicos Gestinver from Spanish companies Elawan Energy and Genera Avante.

Parques Eolicos Gestinver owns the 20MW Farrapa, 14MW Peña Revolta and 23.5MW Pousadoiro projects in the Lugo province of Galicia in north-western Spain. It also owns the 30MW Les Forques and 44MW Montargull wind farms in Catalonia’s Tarragona province in the north-east of the company.

Following the close of the purchase, which is expected in the first half of this year, EGP España’s installed capacity in the country will exceed 1.8GW, the company stated.

EGP CEO Antonio Cammisecra said the acquisition enabled the company to consolidate its return to growth in Spain following successful bids in two tenders last year.

"These high-quality assets are already operational and we are looking forward to further boosting their performance through their incorporation in our group’s operation and maintenance system and in our integrated energy sale strategy," Cammisecra added.

Last year, Enel won 879MW of new renewable capacity in two tenders in May and July – including 540MW for wind power projects in Aragon, Andalusia, Castile, León, and Galicia.

Enel’s win was part of government capacity allocations totalling 4.6GW since 2016, following an effective moratorium on new capacity since 2013. 

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