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MADRID, April 12 (Reuters) - Spanish engineering and energy group Acciona received shareholder approval on Monday for a stock market listing of its energy business, clearing the way for a deal to help fund an expansion of its renewables fleet and cut debt.
The company plans to list at least 25% of the renewable energy business, which could be among the biggest of a series of planned IPOs in the sector in Spain.
Acciona makes most of its money from generating and supplying renewable energy, which has become an increasingly popular sector for investors as governments and corporations try to wean themselves off fossil fuels and stem climate change.
UPDATE 2-Acciona aims to list energy unit in first half, eyes M&A later reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.