Acciona SA has announced its intention to float its renewables subsidiary, Corporacion Acciona Energias Renovables SA, or Acciona Energia, on domestic stock exchanges. The company reported that the registration document for the initial public offering process has been approved by Spanish market regulator CNMV. Acciona Energia will be listed under the ticker symbol ANE and trade its shares on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges. The IPO, aimed at qualified investors, will be carried out through the placement by Acciona of ordinary shares of its Acciona Energia subsidiary. It is expected that management bodies will approve the IPO subject to market conditions and investor interest.

“As an independent company, Acciona Energia is committed to the best corporate governance standards and to enhancing our global leadership position in sustainability, one of our key competitive advantages,” says Acciona Energia chief executive Rafael Mateo.

Acciona Energia is present in 16 countries, and as of March 2021, operates a total installed capacity of 11 GW across a diverse range of clean energy technologies. The renewables business is targeting to reach 20 GW by the end of 2025. Acciona Energia will have an 11-member Board of Directors, including seven independent directors. It also added that 45 per cent of the board members will be women.