Spanish-based renewable energy investor Capital Energy has engaged Lazard to facilitate the sale of its portfolio, comprising 4.3 gigawatts (GW) of onshore wind and solar power plants in Spain, as revealed in documents viewed by Reuters on July 30. This collection of assets is valued at an estimated USD1bn, according to insiders familiar with the deal. However, the final valuation will be subject to scrutiny during the due diligence process. The renewable energy sector in Spain is undergoing significant growth, as evident from the country’s drafted strategy to increase wind generation capacity to 62 GW, photovoltaic solar generation capacity to around 76 GW, and power storage capacity to 22 GW.

The sale package also includes a dedicated team of 45 Capital Energy employees, as disclosed by Lazard. Currently, Capital Energy employs 355 people and possesses an extensive renewable portfolio of 25 GW, with 10 GW in advanced development, holding granted access to the Spanish power network. Potential bidders have been invited to submit indicative bids at the beginning of October, positioning this opportunity as a significant milestone in the renewable energy market.

Sources:

https://www.reuters.com/markets/deals/capital-energy-sell-1-bln-renewable-energy-portfolio-sources-2023-07-30/