Capital Energy to sell $1 billion renewable energy portfolio

• 9 months ago (2023-07-31)
• David Flin

Europe 1061 Renewables 752

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Capital Energy has hired Lazard to sell a portfolio of 4.3 GW of solar and onshore wind power plants in Spain, estimated to be worth up to $1 billion.

The sale consists of: 48 projects amounting to 1.6 GW ready to start construction within the next 15 months; 0.7 GW of solar PV that can be integrated into the wind portfolio; and 2 GW of early-stage wind assets. Sources suggest that bidders could either offer to buy the projects that are closer to completion, a separate parcel of less developed assets, or both.

Spain has drafted a renewable strategy to increased targets for wind generation capacity from 50 GW to 62 GW, PV solar generation capacity to 76 GW, and power storage capacity to 22 GW.

Bidders should send indicative bids at the beginning of October.