Spanish businessman Manuel Jove is considering selling renewable energy business Avantegenera to take advantage of consolidation in the sector, two sources with knowledge of the matter said on Monday.
Jove has hired Societe Generale as an adviser on a deal that could fetch up to 1 billion euros ($1.2 billion), the sources added, echoing an earlier report by Bloomberg.
The sources said the plan was still at an early stage. The business could be sold in one block or split into different parts, they added.
Avantagenera’s clean-energy assets include wind and solar power plants in countries such as Spain and Brazil.
Societe General and Inveravante, Jove’s investment vehicle, declined to comment.
Foreign investors have been buying renewable assets in Spain during the country’s economic recovery.