Siemens Gamesa Renewable Energy (SGRE), through its subsidiary SGRE 9Ren, has sold three operational solar photovoltaic plants to Aurea Capital in Spain, a fund that specializes in renewable energy and infrastructure, the company announced on Wednesday.
According to SGRE's statement, the plants, with an aggregate capacity of 1.2 megawatts, are located in the Spanish provinces of Huesca, Murcia and Huelva.
"The deal will have a positive impact on cash and provide a capital gain of approximately €1 million in the current fiscal year 2019," the company stated.
The company also stated the sale is part of the non-core asset disposal program set in motion by the company in order to enhance its resource allocation and cash management.
By Gulsen Cagatay