What happens when a global clean energy leader decides to cash in on operational maturity without losing control? ACCIONA Energía has answered that question with a decisive move in North America. On December 15, 2025, the company announced a major portfolio transaction spanning the US and Mexico, signaling both financial discipline and long-term confidence in renewable power markets. This blog explores the structure of the deal, the assets involved, and what it means for investors and the wider energy transition.

ACCIONA Energía has agreed to sell a significant minority interest across a combined 1.6 GW solar and wind portfolio in the US and Mexico for an equity value of roughly $1 billion. The transaction involves divesting a 49% stake in a 1.3 GW US solar portfolio alongside a full sale of a 321 MW wind portfolio in Mexico. When weighted by capacity and ownership, the deal represents a net equity sale of approximately 59%. Importantly, ACCIONA will retain a 51% majority stake in the US solar assets and continue operating them, reinforcing its asset-light capital recycling strategy while maintaining operational influence.

The portfolio comprises recently commissioned and fully operational assets with a weighted average operating life of just 2.4 years. The US solar plants span Texas, Illinois, and Ohio, including the 458 MW Red Tailed Hawk and the 415 MW Union project. Revenue structures are well diversified, combining merchant exposure with utility and corporate PPAs, including long-term contracts with Public Power Pool and Amazon. In Mexico, the El Cortijo and Santa Cruz wind farms add geographic balance, backed by a 15-year utility PPA with CFE, REC revenues, and a corporate offtake agreement. This blend of contracted and merchant revenues enhances resilience while preserving upside.

For ACCIONA, this transaction releases capital to fund future growth while de-risking the balance sheet. For investors, it offers access to scale renewables assets with proven operating performance and stable cash flows. A comparable strategy has been used successfully by other global utilities, allowing them to recycle capital without sacrificing long-term value creation. As the deal targets closure in the first half of 2026, subject to regulatory approvals and financing, it underscores growing appetite for operating renewable assets in North America.

This billion-dollar transaction highlights how smart portfolio optimization can accelerate clean energy expansion while delivering value.

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