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Northland Power has entered into an agreement with Helia Renovables to acquire a portfolio of operating onshore renewable assets in Spain with a total combined net capacity of 540MW.
The portfolio includes 33 operating assets comprised of onshore wind (424MW), solar PV (66MW), and concentrated solar (50MW) located throughout Spain. Total cash consideration to be paid for the Portfolio upon closing will be €345 million (C$520 million) together with the assumption of debt in the amount of €716 million (C$1,075 million). Closing of the acquisition is expected to occur in the third quarter of 2021 subject to regulatory approvals and customary closing conditions.
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