Iberdrola could sell its co-generation assets for more than 200 M€

Iberdrola's growth in US

Renta4 | According to media reports, the Spanish utility is in preliminary conversations with Neoelectra and SDCL to sell its electricty co-generation business in Spain, where it has 19 plants producing 368 MW.

The information suggests a Price of more than 200 million euros, depending on the future regulatory situation, above all in the long term. More than a year ago Iberdrola was looking for a buyer of these assets as part of its asset rotation strategy, where it exceeded 1.3 billion euros of the 3 billion foreseen in the plan. If the news is finally confirmed, we would value it positively but consider the impact limited. We reiterate overweight, O.P. 7.8 euros.