"With KKR as a long-term financial partner, Acciona is in a strong position to take advantage of the huge opportunities that lie in the global market for renewable energy," says José Manuel Entrecanales Domecq, chairman and chief executive of Acciona.

Acciona Energía Internacional (AEI) will hold 2.3GW of operating renewable assets outside Spain in countries including the US, Mexico, Australia, Italy, Portugal and South Africa that generate steady cash flows of about €120m a year.