Axpo sells its shares in La Peñuca

Axpo, agrees to sell its stake in the 33MW La Peñuca wind farm in Spain to Cubico Sustainable Investments. This sale, validated by the competent authorities, is effective immediately.

Change of strategy

Axpo wants to develop onshore wind farms and solar power plants by 2030. The Swiss company aims to achieve a solar capacity of 10GW and wind capacity of 3GW. The company is evaluating opportunities to redistribute wind and photovoltaic assets throughout Europe.

Axpo is taking on Mazars as a financial advisor. In addition, Watson Farley Williams is acting as legal counsel to the firm. In addition, the parties do not wish to disclose the sale price.

An independent energy producer

Since 2006, the Swiss company has been operating 22 NEG Micon NM72 turbines in La Peñuca, in the Spanish region of Castilla y Leon. The power of each of these turbines is 1.5MW for an average annual production of 98.4GW. In addition, over the past six years, the average annual availability has been 97.9%.

Axpo Iberia, the Spanish subsidiary of the Swiss company, has been fully committed to renewable energies since its foundation in 2002. Axpo Iberia is the first independent wind farm manager in Spain. The Iberian subsidiary is an important energy supplier for large Spanish end-users.