Bruised Acciona seeks global partner

Acciona HQ

Acciona HQ

Spain’s Acciona confirmed it is talking to possible partners about taking a minority stake in its international renewables business, as it set out the way through what the company’s CEO called one the most challenging periods in its history.

Acciona today unveiled a net loss of €1.97bn ($2.7bn) for 2013 as regulatory changes in its home market forced it to take a €1.68bn hit on the value of its renewable energy assets.

Acciona said reforms to the Spanish energy market directly cost it €257m in 2013, and led to the huge goodwill write-offs and impairment charges on its domestic wind power interests.

The company made it clear that its priorities lie outside Spain, and confirmed it is in negotiations with possible minority partners for Acciona Energy's international renewables business. Reports Log in to read complete article.

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