FCC, the Citizen Services Group, has fulfilled another of the objectives of its Strategic Plan as the year ends: it has sold 51% of the company that owns its renewable energy assets to Plenium Partners. The agreement between FCC and the buyer includes compensation clauses in connection with the future evolution of the Energy business's value, so that FCC may obtain remuneration in addition to that corresponding to the 49% stake which it has retained.

FCC's Energy area owned 14 wind farms (421.8 MW total installed capacity), two solar thermal plants (100 MW) and two photovoltaic plants (20 MW). The sale includes 100% of the wind assets and the Group's entire stakes in the photovoltaic and solar thermal assets (70% of Guzmán Energía and 57.8% of Enerstar Villena).

The sale of FCC's Energy division, on which BBVA, Bankia and Goldman Sachs acted as advisors, was one of lines of strategy set out in the Strategic Plan presented in March. This transaction also fulfils two of the objectives set out in that Plan: to focus Group activities on water, environmental services and infrastructure, and to reduce interest-bearing debt to below 5 billion euro. In fact, the divestment of the Energy area reduces net interest-bearing debt by 763 million euro.

This sale comes just days after FCC completed refinancing of the debt of FCC Environment, its UK environmental services subsidiary, amounting to 381 million pounds sterling (456 million euro) for a period of four years.
This agreement is part of the very substantial progress made by FCC to refinance the entire group, which is expected to be completed in the short term and will provide it with "a sustainable financial structure adapted to the cash flow envisioned for the various businesses".