Endesa, through its wholly owned company Endesa Generationhas signed an agreement with Acciona Renewable Energy Corporationa company belonging to the Acciona group, for the purchase of the entire share capital of Corporación Acciona Hidráulica. The agreement provides for the payment of a price of 1,000 million euros1,000 million, subject to the usual adjustments in this type of transaction, for 100% of the shares, free of debt.
Corporación Acciona Hidráulica is the owner of a portfolio of 34 hydroelectric power plants located in northern and eastern Spain (Aragon, Soria, Valencia and Navarra) with a total installed capacity of 626MWmost of which are modulable and which generated approximately 1.3TWh in 2023.
The agreement will allow Endesa consolidate its position in the sector renewable energies sector, increasing the share of energy sales with own production from renewable sources maximizing the revenues generated by its integrated presence throughout the value chain.
With the closing of the transaction, Endesa will reach an installed hydroelectric capacity of more than 5,3GW in Spainwith a total power of renewable sources in Spain and Portugal of 10.7GW. It is expected to take place in first half of 2025 and is subject to obtaining authorizations from the competent competition and foreign investment authorities in Spain.
The agreed price for the acquisition of the entire share capital of Corporación Acciona Hidráulica will be financed by cash flows derived from the Company’s ordinary operations and is in line with the planned capacity development plan.