February 12 (Renewables Now) - Cobra Instalaciones y Servicios SA has acquired the 49% stake it did not own in Spanish renewables energy assets developer Bow Power from New York-based investment fund Global Infrastructure Partners (GIP) for USD 96.8 million (EUR 85.8m).
Cobra, a company wholly owned by Spanish civil engineering group ACS Actividades de Construccion y Servicios SA (BME:ACS), said Monday it will hold a 100% stake in Bow Power after the acquisition.
Bow Power was the result of a strategic partnership between GIP and the ACS group. Its assets include 150 MW of built and managed solar thermal plants, 204 MW of wind parks, 24 MW of hydropower plants, and 400 kilometres (248.5 miles) of power lines, according to its website.
(USD 1.0 = EUR 0.88)