Grenergy surges after selling asset portfolio to KKR
18/12/2024 09:23
** Shares in Grenergy GREG.MC soar around 19% after
Spanish renewable company has agreed to sell an asset portfolio
in Chile to a KKR company KKR.N for $962 million
** The assets include a 23% stake in Oasis de Atacama, the
largest electricity storage project in the world
** Brokerage Renta 4 says the transaction confirms the
success of Grenergy's asset rotation business model and
validates Oasis Atacama's battery hybridisation strategy
** "The sale will reduce leverage, unlock value that the
market was not recognising and free up capital to accelerate the
investment plan", it adds
** Grenergy's shares are on track for their best day since
February 2, 2021, when they closed 19% higher
(Reporting by Jakub Olesiuk)
((jakub.olesiuk@thomsonreuters.com))