IBDSF - Iberdrola to sell Mexican gas wind assets in $6B deal
2023-04-04 15:57:34 ET
Top Spanish utility Iberdrola ( OTCPK:IBDRY ) said Tuesday it signed a draft agreement to sell more than 8,500 MW of combined cycle gas and wind assets in Mexico for ~$6B.
Of the total installed capacity to be sold, 8,436 MW are combined cycle assets and 103 MW are wind assets, Iberdrola ( OTCPK:IBDRY ) said.
The company said the sale was formalized in a memorandum of understanding with the asset manager of the Mexico Infrastructure Partners' investment funds.
The sale still needs regulatory approvals, but Iberdrola ( OTCPK:IBDRY ) said it has the support of public financial entities associated with the Mexican government.
Iberdrola ( OTCPK:IBDRY ) expects to grow earnings by 10%/year as it capitalizes on the transition to sustainable energy production pushed by government around the world, David Ksir writes in an analysis published on Seeking Alpha .
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Iberdrola to sell Mexican gas, wind assets in $6B deal