Grenergy Sells Spain Solar Projects to Allianz for EUR270.6 Million
18 October 2023 - 8:54PM
Dow Jones News
By Helena Smolak
Grenergy Renovables said it agreed to sell two solar-energy
projects in Spain to Allianz Capital Partners for 270.6 million
euros ($286.2 million), and that proceeds will be used to fund
future growth.
The Spanish renewables producer said on Wednesday that its sale
of two photovoltaic assets with combined generation capacity of 300
megawatts to one of Allianz's asset-management businesses
represents its largest deal to date.
The two plants are anticipated to produce electricity in the
second half of 2024.
The transaction is scheduled to be completed on June 30, 2025,
with all energy revenue going to Grenergy until then, it said.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
October 18, 2023 05:39 ET (09:39 GMT)
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