- This transaction furthers the company’s non-core asset disposal programme
- The plants, located in Huesca, Murcia and Huelva, have an aggregate capacity of 1.2 MW
Siemens Gamesa Renewable Energy (SGRE), through its subsidiary SGRE 9Ren, has sold three operational solar photovoltaic plants to Aurea Capital, a fund specialised in renewable energy and infrastructure. The plants, with an aggregate capacity of 1.2 MW, are located in the Spanish provinces of Huesca, Murcia and Huelva.
The sale, valued in line with similar deals reported in the industry, is part of the non-core asset disposal programme set in motion by the company in order to enhance its resource allocation and cash management. The deal will have a positive impact on cash and provide a capital gain of approximately €1 million in the current FY19.
About Siemens Gamesa Renewable Energy
Siemens Gamesa is a global leader in the wind power industry, with a strong presence in all facets of the business: offshore (#1), onshore (#2) and services (#2).In 2017, the company placed first in the turbine OEM ranking compiled by Make Consulting, with a market share of over 17%.
Through its advanced digital capabilities, the company offers one of the broadest product portfolios in the industry as well as industry-leading service solutions, helping to make clean energy more affordable and reliable. With close to 89 GW installed worldwide, Siemens Gamesa manufactures, installs and maintains wind turbines, both onshore and offshore. Its backlog stands at €22.8 billion. The company is headquartered in Spain and listed on the Spanish stock exchange (traded in the Ibex-35 index).
For more information: www.siemensgamesa.com
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About Aurea Capital Partners
Aurea Capital is an investment and asset management firm, founded in 2013 by a group of technical and finance professionals, that is specialised in renewable energy, infrastructure and selected industrial sectors.
The team has extensive experience in private equity, banking, business development and financial restructuring Its multidisciplinary international experience assures thorough investment analysis, transaction execution, and portfolio management and divestment in line with our investors’ and partners’ risk/return profile.
Aurea invests mainly in :
• Investments with a strong social and environmental impact;
• Investments requiring active, specialized management;
• Investments in production assets based on proven technologies;
• Investments in assets with a predictable effective return;
The Aurea Capital team has originated, invested, managed and/or divested assets with an aggregate value of €3 billion.
For more information: www.aureacapital.com