Spain's Ignis hires Lazard to sell 300 mln euro solar power projects -Expansion
06/06/2023 07:56
MADRID, June 6 (Reuters) - Spanish renewable energy
company Ignis has hired investment bank Lazard LAZ.N to sell a
portfolio of solar power projects with a combined capacity of
380 Megawatts, Expansion newspaper reported, citing market
sources.
The portfolio would be worth about 300 million euros, it
said.
Ignis, which is partly owned by Egypt financial group EFG
Hermes HRHO.CA , expects the solar power projects to start
producing electricity in late 2024 and early 2025.
Ignis and Lazard did not immediately respond to requests for
comment.
With its sunny plains, heavily dammed rivers and wind-swept
hills, Spain is attracting investors to renewable energy
projects as the government seeks to meet its targets on reducing
greenhouse gas emissions by 2030.
Local energy companies such as Iberdrola IBE.MC and Repsol
REP.MC have been selling stakes or entire advanced projects to
raise cash to invest in new ones.
(Reporting by Inti Landauro; Editing by Kirsten Donovan)
((Inti.Landauro@thomsonreuters.com;))