2023-07-25 18:33:50
EQS-News: VERBUND AG / Key word(s): Mergers & Acquisitions
VERBUND AG: Acquisition of operative wind power plants in Spain with a
capacity of 257 MW and potential for hybridisation and repowering
25.07.2023 / 18:17 CET/CEST
The issuer is solely responsible for the content of this announcement.
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VERBUND AG hereby announces the acquisition of operative wind power plants
in Spain with a total capacity of 257 MW and potential for hybridisation
and repowering from EDP Renewables Europe, S.L.U. (“EDPR”) for an
enterprise value of approx. €0.46bn.
VERBUND Green Power GmbH will acquire 100% of the shares in Viesgo
Renovables S.L. and Viesgo Europa S.L. The two companies hold nine wind
portfolios with a total installed capacity of 257 MW sited at various
locations in Spain. Seven portfolios are beneficiaries of a national
funding scheme which on average will run for another seven years, while
two portfolios are marketed as “merchant”.
The acquired assets constitute an attractive, well serviced and
geographically diverse wind portfolio. In Spain, good wind sites with
available grid connections for developing new greenfield projects are
rare. Consequently, the acquisition is an excellent opportunity to augment
VERBUND’s existing wind portfolio in Spain, and in doing so to balance out
the predominantly solar load profile. There is currently great demand in
the market for combined wind/solar profiles; these are also more
advantageous for potential hydrogen production.
VERBUND’s 2030 strategy is to significantly expand solar and wind power so
that around 20% to 25% of the total generation will be produced from
photovoltaic and wind onshore sources by the year 2030. Spain has been
defined as a strategic target market. After entering the market in late
November 2021 and the subsequent transactions, this new acquisition is an
important step towards reaching this goal and enables VERBUND to take a
leading position in the Spanish energy market.
Contact: Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 – 52604
F.: +43 (0)5 03 13 – 52694
investor-relations@verbund.com
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25.07.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
═══════════════════════ Company: VERBUND AG Am Hof 6A 1010 Wien Austria Phone : 0043-1-53113-52604 Fax: 0043-1-53113-52694 E-mail: investor-relations@verbund.com
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1688073
1688073 25.07.2023 CET/CEST
1690310055
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