Ence completes purchase of 50-MW CSP plant from Iberdrola

Iberdrola Ciudad Real thermal solar power plant

December 3 (Renewables Now) - Spanish company Ence Energia y Celulosa SA (BME:ENC) announced on Friday it has closed the acquisition from Iberdrola SA (BME:IBE) of a 90% stake in the 50-MW Puertollano solar thermal power plant.

More specifically, Ence has acquired the plant's holding company, Ibersol, for EUR 139.8 million (USD 158.2m), excluding EUR 41.5 million in cash. A further EUR 6.3 million will come as an earn-out payment, Ence stated in its press release.

Ence Energia Solar has also assumed the ownership of a loan granted by Iberdrola Financiacion to Ibersol.

Last month, the Spanish firm said it is expanding to EUR 69 million the green financing for a 46-MW biomass plant, also located in Puertollano, Ciudad Real province.

(EUR 1 = USD 1.13)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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