BILBAO, SPAIN - Spanish company Elecnor SA has finalized its alliance with Dutch pension fund manager APG Group NV through which the companies will jointly invest and develop transmission and renewable energy projects other than wind power.

As part of the deal, APG will acquire 49% stake in Elecnor's wholly-owned company Celeo Concesiones e Inversiones SL.

Celeo Concesiones e Inversiones owns a 51% stake in Celeo Redes SL, a transmission infrastructure builder and operator of assets in Chile and Brazil, in which the only other shareholder is APG.

Source: Renewables Now