Iberdrola: sells 800 million euros worth of assets
(CercleFinance.com) - The Spanish energy company Iberdrola this morning announced the sale of assets in the UK to its British counterpart Drax.
The divested assets primarily consist of four combined cycle gas plants with a total generating capacity of 2,000 megawatts (MW), as well as 566 MW of hydraulic capacity. According to Drax, these assets' EBITDA is expected to increase from 36 million pounds in 2017 between 90 million and 110 million pounds in 2019, with the transaction enhancing earnings as from next year.
The sale is being made at a price of 702 million pounds, or about 800 million euros. It should be finalized by the end of the year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The divested assets primarily consist of four combined cycle gas plants with a total generating capacity of 2,000 megawatts (MW), as well as 566 MW of hydraulic capacity. According to Drax, these assets' EBITDA is expected to increase from 36 million pounds in 2017 between 90 million and 110 million pounds in 2019, with the transaction enhancing earnings as from next year.
The sale is being made at a price of 702 million pounds, or about 800 million euros. It should be finalized by the end of the year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.