- Pontegadea takes a 49% stake in a 618 MW renewable portfolio for €363 million.
- The portfolio includes 12 wind farms (398 MW) and 2 solar plants (220 MW) in Spain.
- The transaction values the total assets at €740 million.
- Repsol aims to reach 6,000 MW of installed renewable generation by 2025 and 20,000 MW by 2030.
Investment Details
Pontegadea has partnered with Repsol, acquiring a 49% stake in a 618 MW renewable portfolio for €363 million. The transaction values the total portfolio at €740 million.
Portfolio Composition
The portfolio consists of twelve wind farms with a total capacity of 398 MW, located in Aragon and Castile and Leon, and two PV solar plants with 220 MW capacity in Castile-La Mancha and Andalusia. Additionally, the portfolio includes projects with hybridization potential, which could add an extra 279.2 MW.
Previous Collaborations
This marks the third collaboration between Repsol and Pontegadea. Pontegadea previously acquired 49% stakes in the Delta wind farms in 2021 and the Kappa photovoltaic complex in 2022.
Strategic Goals
Repsol aims to accelerate its objectives and maximize returns by bringing in partners. The company has a global renewable energy portfolio of 2,300 MW in operation, 3,000 MW under construction, and various projects in development across Spain, the United States, Chile, and Italy. Repsol targets 6,000 MW of installed renewable generation by 2025 and 20,000 MW by 2030.
