Iberdrola, S.A. (BME:IBE) is considering the sale of a stake in its U.S. renewables business to help to finance new investments, two sources with knowledge of the matter told Reuters. One of the sources said that Iberdrola had appointed a bank to work on a possible sale of a minority stake in the renewables operation but the process was at a preliminary stage and no information has yet been sent to potential buyers. Iberdrola declined to comment.

The potential deal would be in line with Iberdrola's strategic plan to reduce debt through asset rotation and the sale of stakes in certain businesses. That transaction is part of Iberdrola's plan to sell minority stakes in renewable developments to finance a EUR 47 billion three-year investment plan devoted to renewables and power grids.