"Balanced expert perspective available fromour huge archive dating back to 1985"
Acciona becomes 100% owner of Spanish developer EHN
1 March 2005
Spanish industrial group Acciona is now the 100% owner of wind plant developer Corporación Energía Hidroeléctrica de Navarra (EHN) after buying the remaining 10.42% it did not already own after its recent purchase of most of EHN. Acciona paid EUR 83.5 million to Caja Navarra, a semi public savings bank, for the last piece of the formerly independent renewable energy company. It is the third chunk of EHN bought by Acciona since it became the 50% owner of the wind company in 2003. The latest acquisition follows October's purchase of 39.58% of EHN from the regional government's industrial holding company, Sodena. In all, Acciona spent EUR 773 million on buying EHN. The company now operates around 600 MW of wind capacity. In addition to Acciona's shares in other wind concerns -- mainly the 180 MW developed and operated by wind affiliate Alabe -- the group now owns 842 MW of online wind power plant. The production from all of Acciona's wind holdings is traded on Spain's wholesale electricity market, representing 43% of total wind power on the market, according to EHN. Acciona says it is currently building a further 207 MW of wind plant in Spain.
Have you registered with us yet?
Register now to enjoy more articles and free email bulletins.