MADRID (Reuters) - Spanish power company Acciona Energia (ANE.MC) is working on potential sales of assets worth up to 4.5 billion euros ($4.68 billion) in countries including Spain and the United
Acciona Energia Addresses Investor Concerns Over U.S. Market Exposure
By Pietro Lombardi
MADRID (Reuters) -Spanish power company Acciona Energia expects little impact from U.S. President Donald Trump's energy and trade policies, its top management said on Friday, while outlining plans for potential asset sales worth up to 4.5 billion euros ($4.68 billion).
Like other European green energy companies, Acciona Energia has had to navigate investors' unease about exposure to the U.S. renewable energy market amid significant changes brought about by the Trump administration.
"Our exposure to the U.S. energy policy volatility is very limited," Chief Executive Rafael Mateo told analysts in a call on 2024 earnings.
Agreements in place provide clarity on prices and Acciona has already secured tax incentives by acquiring in advance the equipment it needs, he later told a press conference.
The U.S. market makes up around 20% of the business, he said, adding that in the next couple of years its main projects there are two large battery storage facilities.
It expects to reach 3.4 gigawatts of U.S. capacity by the end of 2025 and doesn't have offshore wind projects, an energy source U.S. President Donald Trump has publicly criticised.
"We believe that the U.S. market will remain as one of our key destinations for renewable energy investment in the world," Mateo said.
Acciona Energia, which is controlled by Spanish group Acciona SA, is considering selling some solar assets in the U.S. as part of a broader plan to use disposals to bolster its balance sheet and fund new investments.
It is also considering selling assets in Spain, Mexico, Peru, Chile and Costa Rica, Chief Financial and Sustainability Officer Jose Entrecanales said.
"We only intend to transact on a portion of this pipeline and we'll be selecting those transactions with the best fit," he said.
For this year, it targets asset sales worth up to 1.7 billion euros.
($1 = 0.9620 euros)
(Reporting by Pietro Lombardi; Editing by David Latona, Andrei Khalip and Louise Heavens)
