# KKR sells 50% stake in Spain’s X-elio to partner Brookfield
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-21
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: KKR sells 50% stake in X-elio to Brookfield: Reuters
Meta Description: KKR and Brookfield agree on the sale of half of X-elio, valued at 2.5 billion euros. X-elio operates in Spain, US, and Latin America with 3GW capacity.
URL: https://financedigest.com/kkr-sells-50-stake-in-spains-x-elio-to-partner-brookfieldhtml

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MADRID (Reuters) – U.S.-based buyout fund KKR has agreed to sell a 50% stake in Spanish renewable energy company X-elio to Canadian asset manager Brookfield, the two funds said on Tuesday.

Brookfield already owns the other half of X-elio.

The funds said without disclosing transaction details.

KKR first invested in X-elio in 2015 and Brookfield did so in 2019, they said in a joint statement.

A Spanish newspaper last month reported that KKR was considering [selling its stake](https://www.financedigest.com/intercos-fund-shareholders-l-catterton-otpp-sell-6-stake-at-7-discount.html "Intercos fund shareholders L Catterton, OTPP sell 6% stake at 7% discount") in X-elio and a deal would value the company at 2.5 billion euros ($2.68 billion).

X-elio operates and builds [renewable power infrastructure mainly in Spain](https://www.financedigest.com/in-renewed-push-spain-to-tender-eu-funds-for-evs-batteries-in-july.html "In renewed push, Spain to tender EU funds for EVs, batteries in July"), the United States and Latin America. It currently [develops and operates renewable power](https://www.financedigest.com/edf-edison-ansaldo-team-up-to-develop-nuclear-power-in-europe.html "EDF, Edison, Ansaldo team up to develop nuclear power in Europe") plants with a combined capacity of 3 gigawatts.

With its sunny plains, fast-flowing rivers and windy hillsides, Spain is [attracting many investors](https://www.financedigest.com/5-ways-that-start-ups-can-attract-investors.html "5 Ways That Start-Ups Can Attract Investors") for renewable energy projects.

($1 = 0.9333 euros)

(Reporting by Inti Landauro and Joao Manuel Mauricio; editing by David Goodman and Jason Neely)


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