(Boursier.com) — Iberdrola , which has just completed the purchase of the entire American firm Avangrid, is reportedly looking for an investor to take a 50% stake in a portfolio of American renewable energy assets for an amount of up to $1.8 billion. According to sources close to the matter cited by ‘Bloomberg’, the Spanish energy giant is working with Bank of America to carry out this operation which concerns a portfolio of 700 megawatts of projects under construction. The company estimates it could raise between $1.6 billion and $1.8 billion from the sale.
The portfolio includes 400 megawatts of solar power plants and 300 megawatts of onshore wind power, and all benefit from signed power purchase agreements with large technology companies, the sources said. The process will officially launch in July with the aim of finalizing a sale by the end of the year.
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