Italy's Alerion Clean Power to buy 36-MW Spanish wind park

Wind turbines at work. Author: Nick Cross. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

June 26 (Renewables Now) - Italian wind power producer Alerion Clean Power SpA (BIT:ARN) has agreed a EUR-41-million (USD 46.6m) purchase to mark its entry into Spain, which is about to become one of the company’s main markets in the coming years.

More specifically, Alerion has entered into an agreement to take over Comiolica SL, the owner of a 12-turbine wind farm with a total capacity of 36 MW. The deal also gives Alerion the option to acquire another Spanish wind project totalling 50 MW.

The purchase price of EUR 41 million for Comiolica includes the reimbursement of a shareholders’ loan. Alerion bankrolled the transaction partly with own resources and in part through newly-agreed financing of EUR 23.5 million from Banco Sabadell and Abanca.

The acquisition of Comiolica is part of Alerion’s strategy to achieve 592 MW of installed capacity by 2021. Including the new purchase, the company’s portfolio amounts to 392.5 MW.

(EUR 1.0 = USD 1.136)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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