Spanish engineering group ACS is planning to sell its renewable energy unit Zero-E, which could be worth 1 billion euros ($1.14 billion), Expansion newspaper reported on Thursday, citing unidentified market sources.
ACS will launch the sale process after Easter, the newspaper said, adding French bank Societe Generale is advising the Spanish conglomerate.
Zero-E comprises existing renewable power plants and projects with a total capacity of 2,900 MegaWatts, the newspaper said.
ACS and Societe Generale did not immediately respond to requests for comment.
Renewable energy assets are attractive to investors seeking to bolster their environmental credentials and lower carbon emissions and Spain has become one of the most active markets for solar and wind power.
Source: Reuters.com