Uncategorized ContourGlobal buys Acciona’s solar power assets in $1.19 billion deal

ContourGlobal buys Acciona’s solar power assets in $1.19 billion deal

Image result for Acciona’s (ANA.MC) solar power plants
ContourGlobal buys Acciona’s solar power assets in $1.19 billion deal

Britain’s ContourGlobal (GLO.L) on Tuesday agreed to buy Acciona’s (ANA.MC) solar power plants in a deal worth 962 million euros ($1.19 billion).ContourGlobal said it would finance the purchase, which includes five concentrated solar power plants in Spain, through a combination of project financing of around 635 million euros and cash on the balance sheet.

ContourGlobal expects the purchase to extend the average remaining contract life of its energy portfolio to 12 years from 11 years.

 

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