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Spain’s FCC buys BBW wind assets

Spanish builder FCC said on Thursday it had agreed to buy all of the wind power generating assets owned by Australia’s Babcock & Brown Wind Partners in Spain for €190 million ($281.6 million).

FCC will also take on gross debt of €590 million as part of the deal, FCC said in a statement to the stock market regulator. The assets, which were put up for sale by Babcock & Brown earlier this year, include 14 wind farms with a total generating capacity of 421 megawatts, it said.

Spain has total wind power capacity of around 16,000MW, amid an official drive to boost renewable energy production. FCC recently announced plans to expand into the energy sector, with a focus on co-generation, efficiency and renewables. The builder has a global investment plan of €4 billion over the next three years.

By 0734 GMT, FCC shares were down 0.78% at €32.91, in line with a decline of 1.32% on the benchmark 35-share Ibex index. (Reuters)