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ContourGlobal closes sale of 49% stake in Spanish 250MW CSP portfolio
2019.05.29 From: renewablesnow
ContourGlobal Plc (LON:GLO) completed on Monday the sale of a 49% stake in the 250-MW Spanish concentrated solar power (CSP) portfolio it purchased from Acciona SA (BME:ANA) in early 2018.
The deal was closed for EUR 134 million (USD 149.9m) payable in cash. The buyer is a fund advised by Credit Suisse Energy Infrastructure Partners AG.
The portfolio consists of five 50-MW CSP plants each in South-West Spain, each utilising parabolic trough technology. All of them are regulated under the Spanish renewable remuneration scheme.
The acquisition of the Spanish CSP assets in part contributed to the 23.5% year-on-year increase in the firm’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to USD 147 million (EUR 131.4m) in the first quarter of 2019, ContourGlobal said.
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