Grenergy wraps up sale of 77 MW of wind assets in Peru

Spanish renewables company Grenergy Renovables SA (BME:GRE) has finalised the sale of 77 MW of wind power assets in Peru and transferred them to their new owner, a stock market filing said on Sunday.

Grenergy said it had handed over 37 MW of operational wind farms and 40 MW of projects in development to power producer Engie Energia Peru SA (LIM:ENGIEC1) in a deal worth USD 60.3 million (EUR 55.7m) in equity value terms. The Spanish firm stands to collect additional USD 3.2 million through earn-outs depending on the fulfillment of certain milestones, it said.

The deal involved the sale of the operational Duna Huambos complex of two wind farms and the Naira I and II under-development projects. The disposal is part of Grenergy’s asset rotation strategy, which in Peru included the already closed sale of the 97-MWp Matarani solar project to Malaysian green power producer Yinson Renewables for USD 90 million.

(USD 1.0 = EUR 0.924)

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