Iberdrola rumours

IBERDROLA reportedly intends to sell some of its renewable assets in Spain.

Three different sources told news agency Reuters that Iberdrola was working with Deutsche Bank on selling the portfolio, which could raise more than $700 million (€637.3 million).

The bank is said to have begun the sale process and is contacting potential buyers who include infrastructure investors, fund managers and industrial groups.

The portfolio includes a 1.6 gigawatt combined cycle power plant (CCGT) and 300 megawatts of onshore wind capacity, together with projects for developing 500 megawatts of solar plants that would integrate with the gas plant.

The sale is still at an early stage and Iberdrola could delay or even abandon plans to sell them, the sources said. Meanwhile both parties have declined to comment on the issue.