Renewables group Acciona has agreed to sell a 61.5MW wind farm in South Korea as it pulls in its horns following regulatory changes at home in Spain.
Acciona will sell the Yeong Yang I wind farm to a
local investment fund in a deal worth €114m ($153m).
The plant uses 41 of Acciona
Windpower’s 1.5MW turbines.
The Spanish group said the sale
“is part of a strategy by Acciona to divest non-strategic assets with the aim
of offsetting the economic impact of regulatory changes in the Spanish electric
with a heavy exposure to the Spanish renewables market have seen their financial
position dented by a string of policy measures introduced by the nation’s government.
Korean deal is expected to be finalised by the end of the year.