Engie buys a 182 MW renewable portfolio in Galicia and Andalusia from Greenalia

Engie has signed the acquisition of a 182 MW portfolio of renewable projects from Greenalia in Galicia and Andalusia. The projects are in the development phase and are expected to be operational in 2025.

The transaction marks Engie's entry into the renewable market in Galicia. The group now has an installed capacity of 1,600 MW in Spain, with 1,400 MW of wind, 136 MW of photovoltaic and 65 MW of hydroelectric power. In this sense, it will be responsible for the development, operation and maintenance of the acquired facilities.

The operation is part of Engie's ambitious global goal to increase its renewable capacity by an average of 4,000 MW per year in the period 2022-2025, with Spain being a key player in achieving this goal.

"Our goal is to drive and be a benchmark in the energy transition in Spain, and this new acquisition is certainly aligned with this purpose. It is a portfolio of quality projects that will contribute to achieving our ambitious goals in the country. It also represents our entry into the renewable market in Galicia, a region with great potential for renewable energies and reinforces the geographic diversification of our portfolio," said Loreto Ordóñez, CEO of Engie Spain.

According to Manuel García, CEO of Greenalia, "this transaction is part of the company's asset rotation plan. The funds obtained from this transaction will be used to accelerate and consolidate the development of Greenalia's business plan, a company in which we have an active, geographically and technologically diversified pipeline of more than 6,000 MW of renewable projects.