Iberdrola Halts One Billion Dollar Spanish Solar Stake Sale
Iberdrola has paused the sale of a minority stake in its Spanish solar portfolio. The deal was valued at one billion dollars amid shifting market demand.
IBERDROLA SA has reportedly suspended the sale of a minority interest in a significant solar energy portfolio located in Spain. The portfolio, known internally as Project Julieta, consists of approximately 1 gigawatt of solar capacity. Sources familiar with the matter indicated that the Spanish utility had been seeking a valuation of roughly $1 billion for the entire asset group when it began exploring the sale last year.
The decision to halt the process stems from challenges regarding the high valuation and a decline in interest from a potential lead bidder. Market conditions in the region have also played a role; while solar capacity has expanded rapidly, electricity demand has not kept pace. This imbalance has pressured the prices producers receive for their output, subsequently impacting the market value of generating assets.
