The sale and purchase boom in the Spanish renewable energy sector continues. Sener and Masdar have hung the «for sale» sign in their joint venture, Torresol Energy, which includes three photovoltaic solar plants that add a joint power of 120 MW, as different financial sources have explained to elEconomista. To orchestrate the process, the two shareholders hired Santander, which has already received the first offers for these assets, waiting to receive the final offers before the end of July.
According to the same sources, different funds specialized in the renewable energy business have been interested in this process. The operation includes the transfer of 100% of Torresol Energy, which is owned 60% by Spanish engineering Sener and 40% by Masdar, a subsidiary of Mubadala (the Abu Dhabi sovereign fund, Cepsa’s main shareholder). Both companies formed this company in 2008 to promote the technological development, construction, operation and maintenance of large thermoelectric solar plants. elEconomista tried to contact Sener, but as of press time (the end of July), he was unable to do so.
Torresol Energy has three plants located in Andalusia: Gemasolar in Seville and Valle 1 and Valle 2 in Cádiz. These three facilities offer clean energy to more than 100,000 homes and manage to save more than 117,000 tons of CO2 emissions annually – about 650,000 tons in total, since the beginning of their operation.