Spanish Endesa has sold its 23.6% stake in island energy firm Sechilienne-Sidec to UK investment company Ecofin Ltd for €103 million.

Sechilienne-Sidec runs steam and power plants in the Caribbean and Indian Ocean and the sale by Endesa’s French unit Snet is part of the Spanish company’s strategy to divest non-core businesses. The news follows last month’s sale of a majority stake in Sechilienne-Sidec to UK firm Apax.