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Brookfield's Spanish renewables unit draws bidders, Cinco Dias reports
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Brookfield's Spanish renewables unit draws bidders, Cinco Dias reports
Jun 28, 2024 1:15 AM

MADRID, June 28 (Reuters) - Four bidders - China Three

Gorges, UAE firm Masdar and French energy companies

Engie and Total are expected to file final

offers to buy Spanish renewables firm Saeta Yield, newspaper

Cinco Dias reported on Friday.

Saeta Yield, owned by Canadian fund Brookfield, is

valued at an estimated 1.7 billion euros ($1.82

billion)including debt, the Spanish newspaper reported, citing

unidentified financial sources.

Brookfield started the sales process last year, sources told

Reuters in December. It bought the company from Spanish

construction group ACS for 1 billion euros in 2018.

Saeta Yield owns 28 wind farms, 10 photovoltaic parks and 7

solar thermal plants in Spain and Portugal, according to its

website. Brookfield intends to retain the thermal plants, Cinco

Dias reported.

Brookfield, Masdar, Engie and Total did not immediately

respond to requests for comment. Three Gorges was not

immediately available for comment.

Spain and Portugal's abundant solar and wind resources and

their governments' carbon emission reduction targets are

attracting both domestic and foreign investors.

($1 = 0.9350 euros)

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