Grenergy Sells Spain Solar Projects to Allianz for EUR270.6 Million
By Helena Smolak
Grenergy Renovables said it agreed to sell two solar-energy projects in Spain to Allianz Capital Partners for 270.6 million euros ($286.2 million), and that proceeds will be used to fund future growth.
The Spanish renewables producer said on Wednesday that its sale of two photovoltaic assets with combined generation capacity of 300 megawatts to one of Allianz's asset-management businesses represents its largest deal to date.
The two plants are anticipated to produce electricity in the second half of 2024.
The transaction is scheduled to be completed on June 30, 2025, with all energy revenue going to Grenergy until then, it said.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
October 18, 2023 05:39 ET (09:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks