KKR said to want to sell Acconia Energia stake
US private-equity firm KKR is looking to sell its stake in the international unit of Spanish renewable energy business Acconia Energia, according to a report in El Econimista. KKR acquired 33% of Acciona Energia Internacional for EUR397m ($466m) in 2014. The stake is now valued at more than EUR600m. Acciona Energia operates almost 9 GW of power assets, including wind, photovoltaic, hydropower, concentrated solar power and biomass.

US private equity firm KKR & Co LP (NYSE:KKR) is reportedly looking to sell its stake in the international business of Acciona Energia, the renewable energy unit of Spanish infrastructure group Acciona SA (BME:ANA).

El Economista reported yesterday that KKR has engaged investment bank Lazard to prepare the sale. KKR acquired 33% of Acciona Energia Internacional for EUR 397 million (USD 466m) in 2014. According to the article, the stake is now valued at more than EUR 600 million.

The newspaper said that KKR wants to take advantage of the liquidity on the market and favourable valuations of green energy assets to monetise the stake. There could be a deal before the end of the year.

Acciona Energia operates nearly 9 GW of own capacity, the biggest part of which is wind. It also has photovoltaic (PV), hydropower, concentrated solar power (CSP) and biomass power assets in its portfolio.

(EUR 1 = USD1.175)

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