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Contour soaks up Spanish sun

Five solar plants totalling 250MW acquired from Acciona Energia

Contour soaks up Spanish sun image

ContourGlobal has agreed the acquisition of Acciona Energia's 250MW portfolio of five 50MW solar plants in south-west Spain.

The total value of the deal is €962m, comprising €806m payable to Acciona Energia and existing net debt of €156m.

ContourGlobal has also agreed to make earn-out payments to Acciona Energía of up to €27m.

“Over the past seven years we have enjoyed successful thermal operations in Spain and developed a solar business in central and southern Europe,” said ContourGlobal president and chief executive Joseph Brandt.

“Today’s acquisition enables us to combine this operating expertise in a sizable portfolio of long-term regulated assets which will enable us to leverage our existing footprint in the country and deliver on our commitment to pursue operationally led significant growth,” he added.

Image: Pixabay

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