Pinsent Masons has advised Iberdrola on the sale of three hydroelectric power plants located in Castellón (Spain) with a total installed capacity of 35 MW to the Austrian company Kelag.
Kelag is a well-known player in the hydropower sector thanks to its extensive experience, managing almost 100 of its own hydropower plants, as well as significant hydropower acquisition and subscription rights with a total installed capacity of 1,500 MW in Austria. This is Kelag’s second transaction in Spain after acquiring four hydropower plants in 2022.
This divestment joins others recently carried out by the energy company, such as the sale of assets in Mexico, as well as the agreements signed and announced with Mapfre, Norges Bank Investment Management, Masdar, bp or Energy Infrastructure Partners.
The team included Hermenegildo Altozano, Juan de Navasqüés and Carlos Angulo.