With Associated Debt Of Around €30m

Global Dominion To Sell Valdecarretas Photovoltaic Park For More Than €37m

Global Dominion.
Global Dominion.

Banc Sabadell| Global Dominion (DOM) an­nounced that it has reached an agree­ment for the sale of the Valdecarretas pho­to­vol­taic park (Zamora, Spain) to Renewables Japan Co. The transac­tion has been closed for more than €37 mi­llion (EV). The park, which has an ins­ta­lled ca­pa­city of c.38 MW, has been in ope­ra­tion since last June.

Assessment: Positive news with limited impact. The transaction is not surprising given that Dominion had already announced that it would sell renewable assets (in whole or in part) from time to time in order to generate cash and crystallise value. The company has not disclosed the debt associated with the project, but it is understood to be somewhere between €25-30m, so the equity would be very much in line with an assessment of approximately €8m.

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