Galp Bids for Acciona's 361 MW Wind Portfolio in Spain, Valued at Nearly €400 Million

en.Wedoany.com Reported - Portuguese oil company Galp has joined the bidding for a portfolio of wind farms being sold by Acciona Energia in Spain, with the deal potentially valued at nearly €400 million. According to Spanish newspaper El Economista, Galp is competing alongside Opdenergy, Nadara, and China Three Gorges (CTG) for this asset package.

The sale process, internally referred to as "Projeto Sirocco," involves a batch of wind farms located in Spain with a total installed capacity of approximately 361 megawatts (MW). Acciona expects to receive binding offers by the end of this week, as part of its asset rotation strategy.

According to the Spanish newspaper, BNP Paribas is serving as the financial advisor for the transaction. The deal primarily involves assets that are already operational, a factor supporting a valuation close to €400 million.

In addition to Galp, Naturgy and Qualitas Energy have also analyzed the deal over the past few weeks, but according to the same source, these two companies are currently progressing more slowly in the competitive process.

Galp's participation in this bid follows its increased investment in the Spanish renewable energy market. Previously, Galp acquired a 351 MW onshore wind farm from Helia Funds for approximately €320 million.

For Acciona Energia, selling these assets is part of its capital recycling policy, which involves divesting mature projects to fund new investments. In recent months, the Spanish group has completed several similar transactions, including the sale of small hydropower plants and other renewable energy asset portfolios.

Meanwhile, Acciona Energia is also evaluating strategic options for its energy business, which may include bringing in a major investor as a shareholder or selling stakes in certain international markets. Although the company has analyzed the possibility of a full sale, Chairman José Manuel Entrecanales considers this scenario "highly unlikely."