Repsol has reached an agreement to divest a 49% stake in a 618MW portfolio of renewable energy assets in Spain to Pontegadea, a private investment group. The deal, valued at €363m, encompasses a comprehensive portfolio with a total valuation of €740m.
The portfolio comprises 12 wind farms situated in Huesca, Zaragoza, Teruel (Aragon), and Valladolid (Castile and Leon), boasting a combined installed capacity of 398MW. Additionally, two solar plants, located in Albacete (Castile-La Mancha) and Cadiz (Andalusia), contribute 220MW to the overall capacity.
The portfolio also includes projects with “hybridisation potential,” presenting an opportunity for an additional 279.2MW.
This transaction marks Pontegadea's continued collaboration with Repsol, following their previous partnerships. Pontegadea had previously acquired minority stakes (49%) in two other renewable assets: the Delta wind farms in Zaragoza, Aragon, in November 2021, for €245m, and the Kappa photovoltaic complex in Manzanares, Castile-La Mancha, in July 2022, for €27m.