ACCIONA Energía to purchase 50 per cent stake in Blue Circle

Acciona Energía, a subsidiary of Spanish infrastructure company Acciona, has agreed to purchase roughly 50 per cent of Singapore-based wind project developer, the Blue Circle.

In accordance with the conditions of the agreement, Acciona Energía will invest USD34 million in the company and grow to be its largest individual shareholder. Additionally, it has committed USD113.5 million to finance the projects that reach ready-to-build status. With the agreement, ACCIONA Energía will be able to create, construct, and run projects for the first time in southeast Asia. The Blue Circle now has 1.4 GW of capacity in advanced stages of development and 84 MW of operational capacity in Vietnam. The Blue Circle has 3.8 GW of capacity in the development stage spread across Philippines, Vietnam, Thailand, Cambodia, Indonesia, Laos, and Sri Lanka.