M&AIndustrialsRUMOURED
Renfe Nears €1.36 Billion High-Speed Train Fleet Contract
Value
€1.4Bn
Acquirer
Renfe
Target
30 high-speed trains
Spanish state-owned railway operator Renfe is finalizing an award for 30 high-speed trains capable of reaching 350 km/h. The contract, valued at over €1.36 billion, is expected to be formally closed to renew the operator's aging fleet.
✦ Meridian Analysis
The tender pits Siemens’ Velaro Novo platform against Hitachi Rail’s ETR 1000, with Alstom and Talgo as potential bidders. Evaluation places 30 % weight on the economic criterion. The first five units are slated for delivery in just over three years, after which a new train will arrive every month and a half until the fleet is fully operational in six and a half years.
What remains to be seen is the final price, the choice of manufacturer, and the financing package that will underpin the purchase. The Board’s decision will also determine whether the 40‑unit option is exercised, which would push the total value toward €1.777 billion. Details on the procurement advisers, the exact delivery timetable, and any regulatory approvals required for the necessary infrastructure upgrades have not yet been disclosed.
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