Acciona plans to spin off renewable business

Spanish wind farm and solar park developing and engineering company Acciona Energia, S. A. is planning to hive off and list its renewable power business on the stock market, according to news agency »Reuters«. At least 25 percent of the new company would be floated and Acciona would remain the majority shareholder.
The energy business generated earnings before interest, tax, depreciation and amortization (EBITDA) of €831 million ($1 billion) in 2020. »The new structure should allow Acciona to increase its installed capacity by 2 GW per year between now and 2025, double its previous target,« says the article.

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