Cerberus €1 billion acquisition of Renovalia Energy

Overview:

• Cerberus Capital Management has acquired 100% of the share capital of Spanish renewable company Renovalia Energy for €1 billion. 
• The hedge fund and private equity firm acquired the company from the Ortega Family, and IDM Ortemar. 
• This transaction is one of the largest ever in the Spanish renewable sector. 
• The move is one of a string of acquisitions by American private equity funds looking to invest in distressed assets in the Spanish renewables sector, Cerebrus purchased a further two wind farms in 2015 from Civis Corporation Group. 
• Renovalia has a portfolio of renewable energy operations across six countries, including solar, hydro, wind and photovoltaic plants. 

John Crabb - Journalist