Mexican government secures $852m backing from pension funds to help finance Iberdrola asset purchase
Norbolsa| The Mexican government has obtained $852 million backing from Mexican pension funds to help finance the purchase of Iberdrola’s assets.
Iberdrola
S&P, Fitch and Moody’s estimate Iberdrola’s €5 billion acquisition of 88% of ENW will improve earnings structure
Link Securities | The world’s major rating agencies have given the go-ahead to Iberdrola ‘s (IBE) biggest deal in recent years. Standard & Poors (S&P), Fitch and Moody’s estimate that the acquisition of 88% of British grid operator Electricity North West (ENW) for around €5 billion will improve the electricity company’s earnings structure, elEconomista reported on Tuesday. S&P expects ENW to contribute €500 million annually to IBE’s EBITDA (+3.5% versus…
Iberdrola buys 88% of British distributor ENW for €5 billion
Norbolsa | Iberdrola (IBE) announced that it had agreed to acquire an 88% stake in UK network operator ENWL for €5 billion (€2.5 billion equity value). The closing of the transaction is now subject to obtaining approval from the UK government within an initial three months and a review by the Competition and Markets Authority.
Iberdrola, ICO, Sabadell and HSBC sign €500m syndicated green loan to finance wind, PV and battery projects in US and Australia
Link Securities | Iberdrola, ICO, Sabadell and HSBC have signed a syndicated green loan for an amount of €500 million that is covered by Cesce through its Green Investment Policy on behalf of the State, and which is guaranteed by the Internationalisation Risk Reserve Fund (FRRI), attached to the Ministry of Economy, Trade and Enterprise. The proceeds of the transaction will be used to finance renewable wind and photovoltaic projects,…
Iberdrola gets authorisation for construction of Cofrentes I and Ayora 1 plants
Link Securities | Iberdrola (IBE) has obtained administrative construction authorisation (AAC) for its Cofrentes I (184 MW) and Ayora 1 (182 MW) photovoltaic plants, both in the province of Valencia, according to Expansión. The company says these two plants will generate enough energy to supply approximately 200,000 homes and avoid 124,000 tonnes of CO2 emissions into the atmosphere per year. The Cofrentes I PV plant is located in the municipalities…
Iberdrola in advanced negotiations with data centre developers for creation of joint ventures
Alphavalue/DIVACONS | As part of its 1H24 results presentation, Iberdrola (IBE) announced that it is in advanced negotiations with data centre developers for the creation of joint ventures. Although we do not know the specific details of these negotiations, it is clear that the group is looking to capture a stake in this fast-growing sector. Connecting data centres to the grid represents a real challenge for operators and can be…
KKR offers Iberdrola a UK alliance in bid for ENWL
Bankinter | Iberdrola (IBE) is in the final straight to bid for the British electricity company Electricity North West Limited (ENWL). Iberdrola, on the one hand, and Engie and Quebec , on the other, will present their binding bids for ENWL on 24 July. ENWL is one of the ten largest distribution networks in the UK , controlling the North West of England. The American fund has approached Iberdrola offering…
Iberdrola sells lease rights and all developments of Kitty Hawk North offshore wind farm project to Dominion Energy
Link Securities | The company has reached an agreement with Dominion Energy for the sale to this group of part of the assets it is developing in offshore wind power in the US, according to the newspaper Expansión. Specifically, it will transfer the lease rights and all the developments carried out to date in the Kitty Hawk North offshore wind farm project. Iberdrola will keep the adjoining project, Kitty Hawk…
Iberdrola and Eroski to install 1,000 electric vehicle charging points at 300 of group’s sites
Link Securities | As reported by the Bolsamania.com portal, Iberdrola (IBE) and Eroski have reached an agreement to install 1,000 charging points of different power ratings for electric vehicles at around 300 of the distribution group’s sites in 11 autonomous communities over the next three years. The new facilities will use 100% green energy, from renewable sources with a guarantee of origin certificate, and will save 30,000 tonnes of CO2…
Iberdrola or Engie could finance purchase of Electricity North West but better synergies expected with Iberdrola
Morgan Stanley | Rob Pulleyn raises the scenario of the purchase of the grid company Electricity North West by Iberdrola (IBE) or Engie, as they are mentioned in press articles: Iberdrola, in the final bid for Electricity North West as potential buyers (expansion.com). Rob sees no problems in financing the operation in either of the two, at the valuation that has been put forward in the press (€4-5bn). In both…