Gas Natural to buy Spanish wind operator for EUR 260m

Spanish utility Gas Natural Fenosa (BME:GAS) said Monday it has reached an agreement to acquire local wind power producer Gecalsa for EUR 260 million (USD 294.9m).

Gecalsa operates 10 wind farms and a photovoltaic park with a combined installed capacity of 237.5 MW gross, 201.3 MW net. The company is among the main independent wind power producers in Spain, with plants in Galicia, Castilla-La Mancha, Castilla and Leon and Andalusia, and a pipeline of wind projects with a net attributable capacity of over 400 MW.

Gas Natural Fenosa, which already has 752 MW of wind plants in Spain, will acquire 100% of Gecalsa, according to a filing with the Spanish stock market regulator. The transaction is expected to close in the last quarter of 2015.

(EUR 1 = USD 1.134)

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