Written by: Salma Al-Saqqa
The Spanish company Acciona is preparing for a comprehensive restructuring of its operational activities, which includes relinquishing control of its renewable energy arm, while retaining the power transmission grid infrastructure and fully integrating it into the group's construction and engineering services sector.
New strategy to reduce exposure to capital-intensive assets
Through this strategic move, the company seeks to reduce its exposure to businesses that require massive capital investments and high financing requirements for the development and maintenance of renewable assets, while focusing more on the infrastructure and traditional concessions sector. The company is engaged in advanced discussions with several global investment funds to sell its stake, amid efforts to reach competitive valuations that meet the aspirations of the concerned parties as open negotiations regarding the terms of the deal continue.
Strong expansion in global power transmission grid projects
In contrast, Acciona continues to strengthen its international presence and develop its engineering and operational capabilities in the power transmission grid sector, supported by a wide portfolio of projects and prominent contracts it has recently won in strategic global markets such as Australia and Peru. These activities include building modern transmission lines and major substations that contribute to integrating clean energy generation and meeting the growing demand for electricity.
Retaining industrial and strategic energy activities
Despite redrawing the map of its energy activity and the potential exit from the power generation sector, the company will continue to retain its 47% strategic stake in the German company Nordex, which specializes in wind turbine manufacturing, thereby maintaining its industrial and commercial dimension in global energy markets amidst growing international competition and urgent needs for electricity.
