Acciona sells 18 wind power farms in Germany for $215MM

Acciona Windpower exits German wind energy market, selling 18 wind farms for $215 million.

Spain-based Acciona has entered into a deal to exit the German wind power market, selling 18 wind farms located in the country to Swisspower Renewables AG for $215 million.  Acciona said the transaction is part of an action plan designed by the company to offset the effects of regulatory changes in Spain.

Spain recently implemented a tax of 7 percent on renewable energy production. The tax is part of Spain's  energy reform, which has a goal of generating money by taxing renewable power sources to pay off the country's debt, according to a Reuters report released in August. Spain itself has nearly $35.6 billion in debt and imports over 80 percent of its energy, which consumes 4.5 percent of gross domestic product a year.

Acciona's wind farms, located in Lower Saxony and Brandenburg, are wholly owned by the company and have a total capacity of 150.3 megawatts.

An announcement concerning the deal on the company's website said the effectiveness of the transaction was not subject to any precedent condition and closing was expected to take place on January 23, 2014.

More information on power generation in Spain can be found at PennEnergy Reseach

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs