January 7 (Renewables Now) - Spanish construction engineering company ACS Actividades de Construccion y Servicios SA (BME:ACS) has reached an initial agreement for the sale of its Spanish solar portfolio of approximately 3,000 MW.
The deal, expected to be finalised by the end of January, was made through the company's subsidiary ACS Servicios, Comunicaciones y Energia SL. The name of the buyer was not disclosed.
The portfolio includes photovoltaic (PV) parks currently in operation and assets expected to be commissioned in 2020-2022. The total value is expected to reach around EUR 2.2 billion (USD 2.4bn), with a current equity value of about EUR 750 million.
In its filing with the Spanish market regulator, ACS said the gain from the sale would be calculated upon completion of the transaction.
Last year, the Spanish group received non-binding offers for its renewables unit Zero-E, while ts subsidiary Grupo Cobra put into operation a 190-MW PV complex in the Spanish city of Alcazar de San Juan, Castilla-La Mancha.
(EUR 1 = USD 1.117)