Repsol has sold to Pontegadea, the investment group of the founder of Inditex, Amancio Ortega, 49% of a renewable portfolio of 618 megawatts (MW) for 363 million euros, and thus reinforces the alliances they maintain in other renewable assets.
As reported this Thursday by the energy company to the National Securities Market Commission (CNMV), the portfolio is made up of twelve wind farms, totaling 398 MW, in Aragón and Castilla y León, and two photovoltaic plants, totaling 220 MW. , in Castilla-La Mancha and Andalusia, as well as projects with hybridization potential, which would add an additional 279.2 MW.
The operation, Repsol’s third with Pontegadea, values 100% of the assets, including projects with hybridization potential, at 740 million euros. This last operation allows the holding Ortega investor exceeds 1,000 MW in its renewable portfolio. Pontegadea already had a minority stake of 49% in the Repsol Delta wind farm, in Zaragoza, in November 2021, for 245 million euros, and in the Kappa photovoltaic complex, in Manzanares (Ciudad Real), in July 2022. for 27 million euros.
According to the oil company, this is the third participation of Pontegadea in renewable assets of Repsol “consolidates the alliance between both companies and reinforces Repsol’s strategy of bringing in partners or investors in some businesses to accelerate the achievement of objectives and maximize the return on the group’s operations.
In addition to selling stakes in renewables to Pontegadea, Repsol has given entry to the British fund The Renewables Infrastructure Group (TRIG) in its Valdesolar photovoltaic plant, in Badajoz, and has established an alliance with Crédit Agricole Assurances and Energy Infrastructure Partners (EIP) in the renewable generation business to enhance its growth. Specifically, the two companies agreed to purchase 25% of Repsol Renovables for 905 million euros.