Spain's Elecnor looking to sell minority stake in wind energy unit

Faro Farelo wind farm in Galicia, Spain. Source: Elecnor

February 21 (Renewables Now) - Spanish infrastructure builder Elecnor SA (BME:ENO) is looking for a financial partner to sell it a stake in its wind energy subsidiary Enerfin Sociedad de Energia SLU, the company announced in a bourse filing on Friday.

Elecnor would sell a “significant but not majority stake” in Enerfin, it said. Italian investment bank Mediobanca (BIT:MB) has been retained to serve as Elecnor’s financial advisor in the sales process, the brief filing states.

Enerfin has a stake in 1,227 MW of wind farms operating in Spain, Brazil and Canada, according to the firm’s website. Its pending projects are the 73-MW Woolsthorpe wind farm in Australia, in which it holds a 50% stake, and the 50-MW El Ahumado in Colombia. Both Woolsthorpe and El Ahumado have power purchase agreements (PPAs) in place, Enerfin says.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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