Spain's Endesa to sell 50% share of renewables division

Spain's largest utility, Endesa, plans to sell half of its renewables and cogeneration division, Endesa Cogeneración y Renovables (Ecyr), according to Cinco Dias newspaper, and its wind turbine maker Made. Ecyr is one of Spain's largest wind operators with shares in around 700 MW nationwide. The sale, says Endesa, will bring in EUR 250 million. Ecyr declines to comment. Market observers concur that prospective takers will either be from the industrial sector looking for new business opportunities -- and therefore wanting at least 50% in order not to be swamped by Endesa -- or from the financial sector looking for a bargain. Ecyr value has increased with the commissioning of the 25 MW Magaña wind plant in Soria, Castile and León. Ecyr owns 33.8% of the developer Compañía Eólica Tierras Altas SA, which already has 25 MW at its Oncala plant and expects to bring two more online by spring, raising its total in the province to 99 MW. Both Oncala and Magaña use NEG Micon 750 kW turbines, while the remaining two -- Castilfrío and El Cayo -- are slated to use 800 kW machines from Made.