Spanish energy utility Iberdrola sold its Mexican power business for $4.2 billion as part of its strategic focus on US and UK electricity transmission networks. The deal implies a valuation of $1.6 million per MW of operational capacity, with additional payments expected as projects in the Mexican portfolio come online. Iberdrola Mexico owns 2.6GW of installed capacity, including 1.4GW from combined-cycle and cogeneration plants and 1.2GW from wind and solar photovoltaic assets
Portuguese utility EDP – Energias de Portugal SA announced that its renewables subsidiary, EDP Renováveis SA, is divesting its entire stake in a 207MWac/248MWdc solar portfolio in Italy. EDP, which holds a 71.3% stake in EDP Renováveis, is selling 100% of its equity in the portfolio to German wind and solar operator Encavis AG for an estimated enterprise value of over €250 million. The portfolio comprises five operational solar farms in central and southern Italy, four of which have long-term power purchase agreements, while the fifth operates under a 20-year Contract for Difference. The transaction is pending regulatory approval and is expected to close later in 2025
Energias de Portugal SA announced that its renewables subsidiary, EDP Renováveis SA, signed an agreement to sell its entire stake in a 190MWac/229MWdc solar portfolio in Spain. EDP holds a 71.3% stake in EDP Renováveis, which is divesting its 100% equity in the portfolio for an estimated enterprise value of approximately €160 million to an undisclosed buyer. The portfolio comprises five operational solar farms across Andalucia and Castilla y Leon, all backed by long-term power purchase agreements.The portfolio’s assets have been in operation for less than a year. The transaction remains subject to regulatory approval and is anticipated to close within the year
Financing Deals
Spanish renewables investor Bruc secured a €650 million green loan to refinance an existing corporate debt facility and support the development of its 6,600MW portfolio. The new financing improves upon the terms of the original €600 million loan signed in September 2023 and will fund investments in solar and wind projects across Spain, as well as the hybridisation of existing plants through added wind capacity and battery storage. The refinancing was backed by Schroders Capital, Infranity, Instituto de Crédito Oficial (ICO), BNP Paribas, Banco Santander, and ING, with Santander and ING also serving as green loan coordinators. Intesa Sanpaolo, an original lender, did not participate in the renewed facility
Israel’s Enlight Renewable Energy Ltd, through its US subsidiary Clenera Holdings, secured a $350 million mezzanine financing facility from Bank Leumi to support the construction of solar and storage projects in the US. The financing covers operational assets including the Atrisco and Apex solar farms, as well as the under-construction Quail Ranch, Roadrunner, and Snowflake A solar-plus-storage projects. Signed in August 2025, the facility will provide $160 million immediately, with the remaining $190 million available once senior debt for Snowflake A reaches financial close, expected in Q4 2025
German renewables developer ABO Energy secured €240 million through its first syndicated loan to support its expanding portfolio of wind, solar, and energy storage projects. The financing was provided by a consortium of seven German and international lenders led by Commerzbank. The package is evenly split between traditional loans, revolving working capital facilities, and guarantee lines, and will largely replace existing loans and promissory notes.
Fund Raisings
Asset manager Sosteneo SGR SpA raised over €700 million across its first clean energy infrastructure fund and a newly launched second energy-focused investment vehicle. The company achieved final close of the Sosteneo Clean Energy Infrastructure Fund (Fund I), securing more than €620 million in capital commitments, alongside €80 million in co-investment capital. Generali Investments Holding, which co-owns Sosteneo with industry experts, acted as the anchor investor. Fund I attracted commitments from a European pension fund, a foundation, a private bank, and multiple family offices and high-net-worth individuals
