RWE Energy sells its share in Tarragona Power to Iberdrola
Source: RWE AG
RWE Energy has sold its 50% share in the power generator Tarragona Power S.L. to the Spanish utility Iberdrola. Iberdrola and RWE have agreed the full take-over of Tarragona Power by Iberdrola Generación.
Tarragona Power is a joint venture so far owned in equal terms by Iberdrola Generación S.A.U. and an affiliated company of RWE Energy AG. Tarragona Power owns and operates a gas-fired combined-cycle plant with a capacity of 417 MW and additional facilities to supply electricity, steam and other process media to a chemical plant nearby.
Tarragona Power has been RWE’s only investment in thermal power generation in Spain and no longer within the Group’s strategic scope. However, RWE is continuing to further strengthening its position in generation from renewables in Spain.
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