Repsol promoting 49% stake in wind, photo voltaic portfolio in Spain

Spanish multi-energy group Repsol SA (BME:REP) has launched a seek for a minority associate that may purchase a 49% stake in its portfolio of photo voltaic photovoltaic and wind energy belongings in Spain, in line with media studies within the nation.

On the desk are some 600 MW of energy crops in operation or about to begin operations, the studies mentioned.

The deal continues to be in toddler phases, with closure anticipated to happen on the finish of 2023, information company Europa Press reported citing market sources.

The transaction might be price between EUR 700 million (USD 749.7m) and EUR 800 million, Spanish newspaper El Confidencial has discovered.

Repsol declined to touch upon any of the studies, the media mentioned.

The group carried out related transactions in earlier years. In 2021, it bought a 49% stake within the Delta wind farm complicated in Spain to investment house Pontegadea Group. Months later, The Renewables Infrastructure Group (LON:TRIG) agreed to acquire a 49% stake in Repsol’s 264-MW Valdesolar photo voltaic farm.

Offers similar to these usually allow corporations to boost funds for additional renewables growth, whereas retaining operational management over the belongings shared with a minority associate.

(EUR 1.0 = USD 1.071)

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