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…

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.

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,…

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…