Siemens Gamesa sells three photovoltaic power plants

Source: press release, 21 November 2018

Siemens Gamesa has installed products and technology in more than 90 countries
Siemens Gamesa has installed products and technology in more than 90 countries (photo: SGRE)

Siemens Gamesa Renewable Energy (SGRE), through its subsidiary SGRE 9Ren, has sold three operational solar photovoltaic plants to Aurea Capital, a fund specialised in renewable energy and infrastructure. The plants, with an aggregate capacity of 1.2 MW, are located in the Spanish provinces of Huesca, Murcia and Huelva.

The sale, valued in line with similar deals reported in the industry, is part of the non-core asset disposal programme set in motion by the company in order to enhance its resource allocation and cash management. The deal will have a positive impact on cash and provide a capital gain of approximately EUR 1 million in the current FY19.