Iberdrola, Spain’s largest energy group, is forging ahead in its strategy of combining partners into projects and businesses by selling them shares in a series of assets and remaining their administrator.

corporate elementsctrica iberdrolawho have done it with some renewable assets, now plans to sell t

Iberdrola, Spain’s largest energy group, is forging ahead in its strategy of combining partners into projects and businesses by selling them shares in a series of assets and remaining their administrator.

corporate elementsctrica iberdrola, which has done so with several renewable assets, now plans to sell the land on which several wind and solar farms are located. The goal is always the same, reduce debt and gain financial strength to continue to grow. Iberdrola has signed barclays to notify you of this transaction, Reuters reported.

Operation is running first company that it will be the owner of the land or will be the holder of the lease. In principle, the idea is to pack on the land where the community is located in spanish.

The scheme will be the same as any other divestment. iberdrola will decrease by 49%. Companies can have a joint initial value of 500 million euros. Initially, Iberdrola will place 15,000 hectares of land on it, although it may add assets in the future. Last year Iberdrola unveiled plans to invest 47,000 million euros in electricity grid, renewable energy production and business with customers in a bid to remain one of the world’s leaders in renewable energy.

Norges, EIP, Macquarie

To finance it, iberdrola he needed resources, but at a time when interest rates were rising, Iberdrola also wanted to reduce his debt.

Group expects to include 2.600 million thanks to the sale of minority shares. The company has just announced the sale of thermal generating assets in Mexico in operation for nearly 6,000 million euros. This year, Iberdrola sealed a strategic alliance with the Norwegian sovereign wealth fund, which is administered by Norges Bank Investment Management, to co-invest in 1,265 megawatts (MW) of new renewable capacity in Spain. That’s what it’s called the Romeo project.

This 100% valuation of the asset portfolio amounts to approximately 1.225 million euros. Iberdrola will control and manage the assets, provide operations and maintenance services, and other corporate services. Norges will retain 49%.

Iberdrola recently joined Swiss fund EIP by selling part of the Wikinger offshore wind farm in Germany.

In England he allied with Macquarie and in Danish with Total. In addition, it is open to partner entry in any of the offshore wind farms in the UK and the Baltic Sea. It is also open for sale of renewable assets in the US.