FCC has reached an agreement with Plenium Partners to sell 51% of its subsidiary FCC energy, which includes wind power assets, concentrated solar thermal power (CSP) and photovoltaic (PV).

FCC has reached an agreement with Plenium Partners to sell 51% of its subsidiary FCC energy, which includes wind power assets, concentrated solar thermal power (CSP) and photovoltaic (PV).

Its renewable energy includes 14 wind farms with a total installed capacity of 421.8 megawatts (MW), two concentrated solar thermal power (CSP) plants with 100 MW and two plants with 20 MW of photovoltaic.

FCC continues its divestment plan. FCC has informed the National Securities Market Commission (CNMV) that it has reached an agreement with the Spanish Plenium Partners investment group to sell 51% of its subsidiary FCC energy, which includes wind power assets, concentrated solar power (CSP) and photovoltaic .
The operation aims to reduce the net debt of the group at 763.3 million euros.

The agreement, says the company, will benefit both with the possible future gains from the sale of any assets, and free cash flows generated. It also includes a payment of eight million euros to sign the contract of sale.

FCC is immersed in a plan of divestiture and restructuring debt. This year , the company has transferred 49% of the Czech SmVak Japan’s Mitsui 97 million and 50% of Proactive services firm Veolia, owner of the other 50 %, for 150 million. Also, a few days ago announced the entrance of financier George Soros in the capital to acquire 3 %.

FCC has the support of creditor banks representing 75 % of its debt to refinance around 5,000 million debt.