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El representante de Acciona España: José Entrecanales, chief financial and sustainability officer de Acciona (izq) y José Bogas, consejero delegado de Endesa (dcha).
Endesa, through its fully-owned subsidiary Endesa Generación, has signed an agreement with Corporación Acciona Energías Renovables, a company belonging to the Acciona Group, to purchase the entire share capital of Corporación Acciona Hidráulica. The agreement provides for a payment of 1,000 million euros, subject to the usual adjustments in such transactions, for 100% of the shares, free of debt.
Corporación Acciona Hidráulica owns a portfolio of 34 hydropower plants located in the north and east of Spain (Aragon, Soria, Valencia, and Navarra) with a total installed capacity of 626MW, most of which are flexible and generated approximately 1.3TWh in 2023.
The agreement will allow Endesa to strengthen its position in the renewable energy sector, increasing its share of energy sales from self-produced renewable sources, maximizing revenues generated by its integrated presence across the entire value chain.
With the closing of the transaction, Endesa will reach an installed hydropower capacity of over 5.3GW in Spain, with a total renewable energy capacity of 10.7GW in Spain and Portugal.
The transaction is expected to close in the first half of 2025 and is subject to obtaining the necessary authorizations from the competent authorities for competition defense and foreign investments in Spain.
The agreed price for the acquisition of 100% of the share capital of Corporación Acciona Hidráulica will be financed with cash flows from the Company’s ordinary operations and is in line with the planned capacity development plan.
About Endesa
Endesa is a leading electricity company in Spain and the second largest in Portugal. It is also the second-largest gas operator in the Spanish market. The company develops an integrated business in electricity generation, distribution, and commercialization. It also offers electric mobility services, being one of the main operators of charging points in Spain, along with other value-added services aimed at electrifying energy use in homes, businesses, industries, and public administrations. Endesa is firmly committed to the UN Sustainable Development Goals and, as such, strongly promotes the development of renewable energy through Enel Green Power España, the digitalization of networks through e-distribution, and corporate social responsibility. In this last area, we also operate through the Endesa Foundation. Our workforce consists of around 9,000 employees. Endesa is part of Enel, the largest electric group in Europe.