Leading bidders after €1bn renewable energy portfolio in Spain

April 11 (Renewables Now) – Multinational oil and gas company Shell Plc (LON:SHEL) and utilities Naturgy Energy Group SA (BME:NTGY) and Verbund AG (VIE:VER) have lined up to acquire some 1 billion euros (USD 1.09 billion) of renewable energy assets in Spain from Spanish investment platform Q-Energy, Reuters reported citing three sources with knowledge.

The prospective buyers are preparing to submit binding offers for a portfolio composed mainly of solar projects, including 75 MW of solar capacity operating under a former subsidy regime and around 3.6 GW of projects in development, according to Reuters sources.

Assets are concentrated around central and southern Spain. The acquisition could also include a team of around 25 people to develop the projects, the report said.

Bidders must submit firm offers by the end of April, the sources told the news agency.

Relevant parties declined to comment or did not immediately respond to Reuters’ request for comment.

About a month ago, Q-Energy itself announced that it was evaluating a billion euro transaction that would involve taking on a partner in its gigawatt-sized portfolio in Spain. At the time, the potential deal was expected to include an 80 MW solar PV asset set and a 4.5 GW portfolio of PV and wind projects under development in various parts of the country.

This sale should be part of Q-Energy’s 2022-2025 strategic plan to invest in a wider range of renewable energy technologies and expand its presence to other markets in Europe, the United States and Latin America. , the company then said.

(1.0 EUR = 1.09 USD)

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