Acciona sells Solar Thermal Assets to ContourGlobal

Accciona attains agreement to sell five solar thermal plants in Spain possessing a combined capacity of 250MW to ContourGlobal. The transaction amounts to €1.09 billion, which could increase by €27 million, to €1.12 billion if certain targets are achieved. The deal will enable  the ACCIONA group to reduce debt by €760 million this year.

ACCIONA will have a total of 8,772MW of power generation assets, of which 84% are wind farms. The company also has a growing photovoltaic business, as well as hydroelectric and biomass-fired capacity. In solar thermal technology, ACCIONA indirectly owns the 64MW Nevada Solar One plant (USA) through ACCIONA Energy International.

The sale is subject to approval by Spain’s National Markets and Competition Commission (CNMC) and by the General Meeting of Shareholders of ContourGlobal plc. The controlling shareholder of ContourGlobal plc, ContourGlobal L.P., with a 71% stake, has made an irrevocable commitment to vote in favour of the deal.