November 25 (Renewables Now) - Spanish renewable energy company Audax Renovables SA (BME:ADX) has signed a contract to sell its direct stake and associated rights in wind power subsidiary Parque Eolico Hinojal SLU, the project company behind 36 MW of wind power capacity in Andalusia.
The buyer is Green Swell SL, a company that operates under the umbrella of funds Helia Renovables III FCR and Helia Energia Renovable III SCR SA, both managed by Plenium Partners Asset Management SGEIC SA, Audax said in a regulatory filing on Sunday.
Financial details on the transaction have not been provided. Audax said the deal is in line with the company’s target to rotate assets and reduce debt. It will not result in a significant capital gain for the group, it was stated in the filing.