Four potential buyers – China Three Gorges, UAE-based company Masdar, and French energy firms Engie and Total are expected to submit final bids to acquire Spanish renewable energy firm Saeta Yield.
Saeta Yield, currently owned by Canadian investment fund Brookfield, is valued at approximately EUR 1.7B ($1.82B) including debts, according to the Spanish newspaper, citing unnamed financial sources.
Brookfield is actively proceeding with the sale process for Saeta Yield, which it initiated last year, as sources informed Reuters in December.
In 2018, Brookfield acquired Saeta Yield from Spanish construction group ACS for EUR 1 billion.
Saeta Yield’s portfolio includes 28 wind farms, 10 photovoltaic parks, and 7 solar thermal plants in Spain and Portugal, according to information available on its website. It is reported that Brookfield intends to retain ownership of the thermal plants, as per Cinco Dias.
Requests for comments from Brookfield, Masdar, Engie, and Total were not immediately responded to. China Three Gorges did not provide an immediate comment.
The ample solar and wind resources in Spain and Portugal, coupled with their respective governments’ targets for reducing carbon emissions, are attracting interest from both domestic and international investors.