Acciona plans to sell more wind energy assets by end-2013 - report

Nov 13, 2013 - Spanish infrastructure and renewable energy firm Acciona (MCE:ANA) plans to sell more wind energy assets by the end of the year in an attempt to offset Spain's energy reform negative impact on the group seen at EUR 137 million (USD 183.7m), business daily Expansion said yesterday on its website.

Acciona's general director of corporate development Juan Muro-Lara has estimated that the firm may close 2013 with a debt of EUR 7.2 billion, if it manages to sell the planned assets. The company, however, still needs to assess the impact of the latest governmental measures in the renewable sector in Spain.

Meanwhile, the group does not plan new investments in Spain due to the unstable regulation framework in the country and is focused on its business abroad.

In March 2013, Acciona said it would sell different type of assets for between EUR 500 million and EUR 1 billion in order to offset the negative impact of the country's power reform calculated at that time at between EUR 160 million and EUR 170 million.

The company reported yesterday a 34.3% decline in net attributable profit to EUR 75 million in the first nine months of 2013 due to the struggling renewables energy business.

(EUR 1.0 = USD 1.341)

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