ACCIONA Energía announced the sale of the San Juan de Marcona wind farm to the Peruvian company Luz del Sur S.A.A. for an amount that could reach USD 253 million, including usual cash adjustments. The transaction concerns the asset located in the Ica region of Peru, which will be transferred free of any debt. The agreement, formalized between the two entities, remains subject to obtaining the necessary regulatory approvals. Among these conditions is the approval of the National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI).
A recent asset of strategic importance
The San Juan de Marcona wind farm has an installed capacity of 135.7 megawatts (MW). It began commercial operations at the end of 2023 and is one of the largest renewable energy projects in Peru. Developed with Nordex wind turbines, the site significantly contributes to the national renewable energy capacity, aligning with Peru’s energy diversification efforts. Luz del Sur, the future owner, is one of the leading energy companies operating in the local market.
The finalization of the sale is expected by the end of the current year, subject to administrative procedures. ACCIONA Energía continues its stated strategy of selective asset rotation, aiming to crystallize value while preserving its credit profile. The Spanish company’s goal is to strengthen its long-term growth potential.
An asset rotation strategy
ACCIONA Energía’s business model regularly involves the divestment of strategic assets, a common practice in the renewable energy sector. By doing so, the company can reinvest the proceeds into the development of new projects. This strategy allows it to maintain an optimized portfolio while strengthening its liquidity and ability to finance future developments. The sale of the San Juan de Marcona wind farm is precisely in line with this logic, without impacting the financial health of the group.
As part of the agreement with Luz del Sur, standard financial adjustment conditions have been incorporated into the operation. These provisions are customary in transactions of this type, covering potential financial variations between the signing of the agreement and its final closure. This sale marks a significant move in the Peruvian energy sector, which has seen increasing transactional activity in recent years.
