Acciona Energia looking to sell assets worth up to $4.7 bln
MADRID, Feb 28 (Reuters) - Spanish power company Acciona Energia (ANE.MC) is working on potential sales of assets worth up to 4.5 billion euros ($4.68 billion) in countries including Spain and the United States, the top management said on Friday.
"We're looking to sell one or more portfolios of a decent size of wind assets in Spain, potentially complemented with the rest of the hydro assets we own," Chief Financial and Sustainabilty Officer Jose Entrecanales told analysts in a call on 2024 earnings.
The company is also considering unloading some assets in Mexico, Peru and Costa Rica, as well as the potential sale of its entire platform in Chile, which has 1 gigawatt of installed capacity, he added.
"In the U.S., we're working to monetise a significant part of our recently commissioned 1.3 gigawatts of solar PV assets," Entrecanales said.
($1 = 0.9620 euros)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
3 hours ago
- Reuters
China's imports of major commodities hiccup in May
LAUNCESTON, Australia, June 9 (Reuters) - China's imports of major commodities lost momentum in May, with crude oil, coal, iron ore and copper all recording declines amid concerns about growth in the world's second-biggest economy. Only imports of natural gas showed any improvement, with May's 10.11 million metric tons slightly ahead of the 9.67 million in April, although they were still down 11% from a year earlier, according to customs data released on Tuesday. Crude oil arrivals dropped to 10.97 million barrels per day (bpd) in May, down 6.2% from April's 11.69 million bpd and also below the 12.1 million bpd recorded for March, which was the strongest month since August 2023. Iron ore imports slipped to 98.13 million tons in May from 103.14 million tons in April, and were also weaker than the 102.03 million from May last year. Imports of all grades of coal were 36.04 million tons in May, down 4.7% from April's 37.83 million tons and 17.8% weaker than the 42.82 million tons in May 2024. Unwrought copper imports were 427,000 tons in May, down 2.5% from the 438,000 tons in April and also below the 514,000 tons from the same month a year earlier. On the surface the decline in imports of major commodities looks ominous for China as the world's biggest buyer of natural resources faces an ongoing trade war with the United States and still sluggish growth at home, especially in the key residential construction sector. But there is always a risk of reading too much into monthly numbers, which can be quite volatile and are also often driven by price moves during the period when cargoes were arranged. Crude oil is a good example of this. China's imports were weak in January and February, with cargoes delivered in these two months having been bought against a backdrop of rising prices, with benchmark Brent futures rallying from early December to a peak of $82.63 a barrel on Jan. 15. But oil prices started sliding thereafter, with Brent dropping to a low of $58.40 a barrel by April 9. Therefore, the rebound in China's crude imports in March and April came amid a declining price trend when the cargoes would have been bought. However, May cargoes would have been arranged when prices were once again trending higher. It's also worth noting that China's imports of Russian and Iranian crude have also been volatile in recent months, dropping as new U.S. sanctions on vessels were imposed and then recovering as traders worked out ways around the measures. This pattern seems likely to have continued, with commodity analysts Kpler estimating China's imports of Iranian oil at 743,500 bpd in May, but also forecasting a sharp rise to 1.48 million bpd in June. Iron ore imports may also have been impacted by price moves, with the price rising modestly over April, the time when most May-arriving cargoes would have been booked. The Singapore Exchange contract reached a recent high of $101.80 a ton on May 14, and has since moderated to end at $96.26 on June 6. While the price moves are modest, the small decline may encourage some buying by China's steel mills, especially given the prevailing view that Beijing will launch new stimulus efforts in coming weeks to boost the economy. Copper imports are also likely reflecting dynamics on global markets rather than the domestic situation in China. China's imports have trended weaker and are now down 6.7% for the first five months of 2025 compared to the same period last year. But physical copper has been shifting to the United States as market players expect President Donald Trump to impose a tariff on imports of the industrial metal. U.S. demand has bolstered the premium of copper for delivery to the United States, and drawn metal away from China. While the London price has been volatile and driven by news reports on what Trump may or may not do, the trend has been to higher prices, with an increase from an April 9 low of $8,105 a ton to $9,701 in early Asian trade on Monday. Coal is the major commodity where China's domestic prices and supply have driven weakness in imports, with strong production and soft local prices cutting the need for imports. Seaborne thermal coal prices have dropped to four-year lows in response, and there are some early signs that demand is picking up, but it will likely take further declines to spark any meaningful interest in boosting imports. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab. (The views expressed here are those of the author, a columnist for Reuters.)
The Herald Scotland
5 hours ago
- The Herald Scotland
Scotland Office leads trade mission in Spain
A total of 16 Scottish female entrepreneurs, led by UK Government Minister Kirsty McNeill and the Scottish Chambers of Commerce (SCC), will arrive in Madrid today. Their mission comes after a report, first covered by The Herald, found that trade in Scotland could increase by more than £10 billion over two years if women-led businesses exported at the same rate as those led by men. The Gender Export Gap Report, commissioned by the Scottish Government, found that if women who lead small and medium-sized enterprises exported at the same rate as male-led exporters, it could increase total turnover by between £2.1bn and £6.3bn over one year, with this potentially increasing to over £10bn over a two year period. Scotland Minister Ms McNeill has voiced she wants the UK to be 'a leader' in promoting gender diversity in international trade. Those involved, including the chief executive of Scottish Chamber of Commerce Liz Cameron, will meet with Spanish entrepreneurs, business leaders and politicians to address the Scottish gender export gap and promote Brand Scotland. Taking place through events in Barcelona and Madrid, ministers said the mission will help Scottish firms 'boost exports, inward investment and kickstart economic growth'. During her trip to Spain, Ms McNeill will also discuss future plans for two shipyards in Scotland with the CEO of Navantia UK, a Spanish ship building company which recently took over the British shipbuilder Harland & Wolff. It currently runs operations across four UK sites including Methil and Arnish in Scotland. READ MORE: 'Scottish trade could create billions through women-led businesses' What Keir Starmer's new UK–EU agreement means for Scotland Figures from last year show Spain is the UK's seventh largest trading partner and it is Scotland's 10th with total trade in goods and services (exports plus imports) being £64.6 billion. The UK is the number one European destination for Spanish investment (€83 billion stock). On Tuesday in Barcelona, the Minister will also meet the President of Catalonia, Salvador Illa to discuss new opportunities for trade and investment for both the UK and Spain. This visit marks the first Brand Scotland trade mission since the signing of a partnership agreement between the Scottish Chambers of Commerce and the Scotland Office on Friday. The deal, backed by a £100,000 UK Government grant, is focused on showcasing Scottish businesses globally and attracting inward investment. UK Government Scotland Office Ms McNeill said: "I'm very proud to be teaming up with the Scottish Chambers of Commerce and fantastic Scottish women entrepreneurs on a trailblazing mission to Spain to help kickstart economic growth, create jobs and attract investment to Scotland as part of the UK Government's Plan for Change. "I want the UK to be a leader in promoting gender diversity in international trade and this is a unique opportunity for our women business leaders to build international connections, explore market opportunities, and connect with other female entrepreneurs in one of Scotland's and the UK's largest EU markets. "Through Brand Scotland, we are now giving our country the global platform it deserves." Last year, Scotland's goods exports to Spain reached £0.7 billion, with food and drink leading the way at over £212 million. Most recent figures show that Spain was the number six export destination for Scotch whisky, with sales worth £196 million in 2024. Spain is also among the most valuable destinations for Scottish seafood exports, including a top 20 destination for Scottish salmon exports. Chief Executive of the Scottish Chambers of Commerce Dr Liz Cameron CBE said: "This trade mission marks a bold step forward in advancing Scotland's global trade ambitions. "By connecting some of our most dynamic women entrepreneurs and leaders with key players in Barcelona, we are opening new doors of opportunity, innovation, and growth. "Scotland's businesswomen are global in their outlook, ambitious in their vision, and ready to lead the way in forging deeper connections around the world. 'The collaboration between the Scottish Chambers of Commerce and Scotland Office is a powerful partnership which will boost business growth, increase exports, and champion Scotland as a world-leading trading nation. "This mission expands our market access and ensures the future of our business community is more representative, resilient, and internationally competitive." The mission follows the Prime Minister Sir Keir Starmer securing an agreement with the European Union last month which aimed at resetting relations after post-Brexit disruption. The deal includes an extension of EU fishing rights in UK waters until 2038. This 12-year continuation maintains current access arrangements, which were initially set to expire in 2026. The UK Government argues that the move provides stability and certainty for the fishing sector. However, Scottish fishing communities and the Scottish Government have voiced strong opposition. The agreement also includes a Sanitary and Phytosanitary (SPS) Agreement, which aligns UK food safety and animal health standards with those of the EU. This alignment is expected to eliminate most routine border checks on animal and plant products between Great Britain and the EU. It will also permit the export of some previously restricted products, including burgers and sausages, back into the EU market. For Scotland, this is significant, facilitating smoother exports for key sectors such as seafood and agriculture. However, it also means that the UK, including Scotland, must adhere to evolving EU regulations in these areas.
Reuters
7 hours ago
- Reuters
China's consumer prices extend decline for fourth month in May
BEIJING, June 9 (Reuters) - China's consumer prices fell for a fourth straight month in May while producer deflation deepened, as the economy faces headwinds from trade tensions and a prolonged housing downturn. The consumer price index dipped 0.1% last month from a year earlier, versus a 0.1% drop in April, National Bureau of Statistics data showed on Monday, slightly better than a Reuters poll forecast of a 0.2% decline. CPI slid 0.2% on a monthly basis, compared with a 0.1% increase in April, and matched economists' predictions of a 0.2% decline. The producer price index was down 3.3% in May from a year earlier, worse than a 2.7% decline in April and the deepest contraction in 22 months. That compared with an estimated 3.2% fall in a Reuters poll.
