The transaction aligns with ACCIONA Energía’s asset rotation strategy. Credit: Manuel Esteban/Shutterstock.

ACCIONA Energía has agreed to sell its 626MW hydroelectric portfolio to Endesa in Spain.

The deal, valued at €1bn ($1.08bn), involves the sale of Corporación Acciona Hidráulica and will close in the first half of 2025, pending antitrust and foreign investment clearances.

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Corporación Acciona Hidráulica’s portfolio comprises 34 hydroelectric plants with a total installed capacity of 626MW.

The hydroelectric plants are spread across the Spanish regions of Aragón, Navarra, Soria, and Valencia.

The plants are supported by long-term concession agreements with an average remaining duration of 30 years.

The portfolio comprises reservoir (56%), run-of-river (30%), and pumped-storage (14%) hydro plants, generating 1.3 terawatt hours (TWh) annually.

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The transaction aligns with ACCIONA Energía’s asset rotation strategy, following the recent sale of 175MW of hydropower to Elawan Energy for €293m.

ACCIONA Energía recently expanded its US portfolio by acquiring two wind farms in Texas, each with a total capacity of 300MW.

The Green Pastures wind farms I and II in Baylor and Knox Counties, Texas will collectively produce 1.1TWh of renewable energy annually.

The $202.5m acquisition enhances ACCIONA Energía’s US capacity significantly.

The two new wind farms have now been integrated into ACCIONA Energía’s renewable energy portfolio in North America, where the company currently has 2.8GW of installed capacity.

In Australia, ACCIONA Energía has also connected the first 27 turbines of the MacIntyre wind farm in Queensland to the national grid, with an initial phase capacity of 154MW added to the region’s power supply.

The installation of 162 Delta4000 turbines, each with a 5.7MW capacity, is currently underway at the project.

The MacIntyre wind farm project will generate a total of 923MW upon completion, expected in October 2025.