Acciona Energía Sells U.S. Solar and Mexico Wind Assets in $1 Billion Deal

Acciona Energía announced an statement to merchantability a 49% involvement successful its 1.3-gigawatt U.S. star portfolio alongside 100% ownership of 2 upwind farms successful Mexico totaling 321 megawatts, successful a transaction valued astatine astir $1 cardinal (€855 million). The buyer, Mexico Infrastructure Partners (MIP), is acquiring the interests arsenic portion of a broader propulsion into operating renewable assets crossed North America.

The U.S. star portfolio includes 4 large-scale photovoltaic projects: Red Tailed Hawk (458 MWp) and Fort Bend Solar (316 MWp) successful Texas, High Point Solar Farm (127 MWp) successful Illinois, and Union Solar (415 MWp) successful Ohio. Acciona Energía volition clasp a 51% controlling involvement successful these assets and proceed to run and negociate them pursuing the transaction.

In Mexico, the woody covers the afloat divestment of the El Cortijo (183 MW) and Santa Cruz (138 MW) upwind farms, some located successful Reynosa, Tamaulipas, adjacent the U.S. border. Together, the 2 facilities relationship for 321 MW of installed upwind capacity.

The transaction is expected to adjacent successful the archetypal fractional of 2026, taxable to regulatory approvals, fulfillment of closing conditions related to the transaction perimeter, and MIP securing financing.

The woody underscores Acciona Energía’s ongoing superior recycling strategy, which aims to unlock worth from operating assets portion preserving operational power successful halfway markets. By retaining a bulk involvement successful the U.S. star portfolio, the institution maintains vulnerability to semipermanent currency flows successful 1 of its precedence maturation regions, portion freeing up superior done partial monetization.

Since mid-2024, Acciona Energía has announced agreements to merchantability astir 1.7 GW of renewable capableness crossed Spain, South Africa, Peru, and Costa Rica, with full proceeds of astir €2.4 billion. The latest North American transaction further strengthens the company’s equilibrium expanse and supports superior reallocation toward caller maturation opportunities.

The woody besides highlights continued capitalist appetite for contracted renewable infrastructure successful the U.S. and Mexico, adjacent arsenic higher involvement rates and regulatory uncertainty person slowed immoderate cleanable vigor investments. Infrastructure funds specified arsenic MIP are progressively targeting operating assets with unchangeable currency flows alternatively than development-stage projects.

For Mexico, the merchantability comes amid a cautious concern clime successful the powerfulness sector, wherever backstage superior has been selective but remains progressive successful renewables with established operations and grid access.

By Charles Kennedy for Oilprice.com