Madrid, 13 June 2012.- Elecnor has acquired 55% of the Scottish company IQA, which specialises in the development of electrical infrastructures, for 5.6 million pounds (more than 7 million euros).
The agreement is part of Elecnor's strategy to increase its presence in Europe. Before this transaction, the company was already present in France, Italy, Belgium, Germany and Portugal, countries where it is carrying out infrastructure and renewable energy projects in the photovoltaic solar sector. The purchase will also involve increasing its activity in the field of electrical infrastructures, where it already has extensive experience in Spain and Latin America, especially in Brazil.
IQA, which has its headquarters in the Scottish town of Paisley (Glasgow), focuses on maintaining distribution lines and substations for Scottish Power. Therefore, Elecnor will provide direct services to Iberdrola's Scottish subsidiary; Elecnor has already been working for Iberdrola in Spain for decades. In relation to IQA, Elecnor's involvement in its capital will give it more resources to develop its strategic plan, focused on fast growth. Similarly, Elecnor will give the company the experience it has gained over more than 50 years, extensive references in distribution and transmission, a qualified workforce and advanced equipment.
This transaction is part of Elecnor's investment plans included in its 2011-2013 Strategic Plan, which involves the mobilisation of 2,850 million euros of global investments.
Elecnor is one of the leading corporations in project development, construction and operation through two major mutually-enriching business areas: Infrastructure and Concessions.
Infrastructure, renewable energy and new technologies are the main areas of activity in which the Infrastructure and Concessions businesses are involved.