EQT sella una alianza con Norges para pujar por Acciona Energía

Swedish venture capital firm EQT has partnered with Norwegian sovereign wealth fund Norges Bank Investment Management (Nbim) to bid for Acciona Energía's renewable energy division, according to multiple market sources consulted by EXPANSION. The consortium, which includes EQT's infrastructure division, is competing against French risk capital firm Ardian for the 100% acquisition of the green subsidiary of the family-controlled group Acciona.

The Swedish firm has committed 75% of the consortium, while Nbim would hold the remaining 25%. EQT raised 21.5 billion euros through its sixth infrastructure fund in 2023 and plans to raise another 21 billion euros with its upcoming seventh fund, while Ardian raised 20 billion euros in 2022 with its sixth infrastructure fund. Other potential bidders for Acciona Energía include Brookfield, as well as major utilities in Spain and other countries, though the latter would likely only show interest in specific geographies of the group.

Financial investors such as KKR and GIP have also shown interest in Acciona Energía, though some may already be disengaged from the deal. The consortium presented their non-binding offers for the company at the end of last July, outlining the percentage of Acciona Energía they are willing to acquire and their valuation. The process has progressed to a new phase, with Acciona Energía organizing meetings between the most interested candidates and the company's management team to address any concerns.

The aim is to confirm the price by mid-October, after which Acciona will select the most suitable proposal to engage in exclusive negotiations. Acciona is currently working with Citi and Goldman Sachs as financial advisors to explore all strategic alternatives for the green subsidiary. The company's president, Jos� Manuel Entrecanales, previously stated that the group sees the sale of the renewable energy division as unlikely due to volatility in energy prices and regulatory uncertainty in various regions.