Endesa Acquires Acciona's Hydroelectric Portfolio for €1B
Deal News | Nov 18, 2024 | Iberian Lawyer
Endesa, a major player in the energy sector, has agreed to acquire Acciona's complete hydroelectric division for €1 billion. This strategic acquisition will see Endesa take control of Corporación Acciona Hidráulica, a subsidiary that includes a portfolio of 34 hydroelectric plants, providing a significant boost to Endesa's renewable energy capacity in Spain. Situated in northern and eastern regions such as Aragón, Soria, Valencia, and Navarra, these plants collectively offer an installed capacity of 626MW, producing around 1.3TWh as of 2023. The transaction, once finalized in the first half of 2025, will elevate Endesa's hydro capacity to over 5.3GW and its total renewable capacity across Spain and Portugal to 10.7GW. However, the deal’s completion is contingent upon receiving approvals from Spain's antitrust and foreign investment authorities.
Sectors
- Renewable Energy
- Utilities
- Mergers and Acquisitions
Geography
- Spain – Both companies involved in the transaction operate within Spain, and the hydroelectric plants are located in Spanish regions.
- Portugal – Endesa's total renewable capacity includes parts of Portugal, indicating a broader Iberian focus.
Industry
- Renewable Energy – The acquisition involves hydroelectric plants, a key component of renewable energy resources, highlighting the industry's trend towards sustainable energy solutions.
- Utilities – Endesa is a major electric utility company, and the transaction significantly impacts the utility sector in Spain by expanding electrical capacity and infrastructure.
- Mergers and Acquisitions – The article discusses a major acquisition, a common activity within the mergers and acquisitions industry.
Financials
- €1,000,000,000 – The transaction price agreed for the purchase of Corporación Acciona Hidráulica's hydroelectric plants.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Endesa | Buyer | Company | A leading electric utility company in Spain, focusing on expanding its renewable energy capacity. |
| Corporación Acciona Hidráulica | Target Company | Company | The entity owning the hydroelectric plants being sold as part of the Acciona group. |
| Corporación Acciona Energías Renovables | Seller | Company | A company under the Acciona group involved in renewable energy, selling its hydroelectric assets. |
| Acciona | Parent Company | Company | A global leader in sustainable energy, overseeing its various subsidiaries including the seller. |