Acciona renewables unit valued at US$11.6bn ahead of IPO

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Construction work underway at an Acciona-owned solar farm in Chile. Image: Acciona.

Spanish utility Acciona has set a price range for its planned initial public offering (IPO) of its renewables division of up to €29.76 (US$35.36), potentially valuing the business unit at as much as €9.8 billion (US$11.6 billion).

Acciona has been planning the IPO of Acciona Energía for some time, the intent being to raise significant funds to develop a sizeable pipeline of renewable energy assets out to 2025.

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Acciona confirmed its prospective pricing late yesterday, setting the range at between €26.73 and €29.76 per share, giving the business unit a total equity value of €8.8 – 9.8 billion enterprise value of €11.9 – €12.9 billion.

Between 15 – 25% of the share capital of Acciona Energía is to be placed, however the size of the IPO may be increased should the listing’s joint global coordinators be granted by Acciona to offer a green shoe option of 10 – 15% of the shares initially offered.

Confirmation of the listing price range comes a month after Acciona CFO José Ángel Tejero confirmed the listing was still intended to go ahead despite a stuttering market for green energy stocks, especially in Acciona’s home market of Spain.

Acciona’s compatriot independent power producer (IPP) Opdenergy shelved its own plans to list on Spain’s stock exchange last month citing challenging market conditions, while fellow IPP Grupo Ecoener was forced to trim down its own IPO plans before witnessing its shares slide more than 15% on its opening day of trading.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

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