FCC's wind farms use Gamesa turbines
Gamesa wins 421MW O&M deal
06 June 2013 12:57 GMT
By Andrew Lee in London
Monday, December 30 2013
The deal with Madrid-based
Plenium includes a controlling share at FCC’s 422MW of wind at 14 plants, and
its interests in 120MW of PV and solar thermal capacity.
The wind farms use turbines supplied by compatriot Gamesa and were the subject of a major O&M extension deal earlier this year.
FCC said the divestment will cut its interest-bearing debt by €763m ($1.05bn), and is
a vote of confidence in its ability to deliver on its corporate turnaround
The deal includes clauses that could see FCC earn more from
the renewables business than corresponds to its residual 49% stake, depending on
how its fortunes evolve.
BBVA, Bankia and Goldman Sachs acted as
advisors on the deal, which comes days after FCC successfully refinanced the
debt of its UK
environmental services operation.
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