US investment fund TPG Sixth Street Partners has decided to sell the ten hydroelectric plants it acquired in Galicia in 2019. These facilities, located in the Xallas and Grande river basins, were part of the purchase from Ferroatlántica, which also included the ferroalloy factories in Cee and Dumbría. The sale could be valued at over 200 million euros.
The decision to sell these assets has attracted interest from around eight potential buyers, including energy companies such as Naturgy, Engie, and Iberdrola, as well as several private equity funds. TPG’s assets in Spain are managed by Ithaka Partners.
This sale is part of TPG’s strategy to optimize its investment portfolio and focus on other business opportunities. The hydroelectric plants in question have significant generation capacity and represent a valuable resource in the Spanish energy market.
The sale of these assets could have important implications for the energy industry in Galicia, especially in terms of water resource management and renewable energy production. The sale process is expected to progress in the coming months as interested parties conduct their evaluations and submit formal offers.
For more details, you can consult the original article in El Economista.