Daily Management Review

Repsol to sell almost half of shares in Spanish RES projects


According to sources of El Confidencial newspaper, Repsol plans to sell 49% of its stakes in a portfolio of operating or upcoming wind and photovoltaic projects in Spain.

Raúl Ortiz de Lejarazu Machin
Raúl Ortiz de Lejarazu Machin
The deal is just getting started, notes El Confidencial, and will likely be finished by the end of the year. The estimated cost of this effort to recruit a minority partner for green projects is €700–800 million.

The combined output of the renewable power plants will be close to 600 megawatts (MW). They will be situated in Castilla-La Mancha, Andaluca, Aragón, and Castilla y León.

Minority partner relationships are an element of the energy company's plan to expand its supply of renewable energy. In July of last year, Repsol formed a new partnership with Amancio Ortega's investment company Pontegadea in order to sell a 49% stake in the Kappa photovoltaic project for €27 million. Similar terms were agreed upon by Repsol and Pontegadea in November 2021 for the sale of a €245 million stake in the Delta wind farm.

source: elconfidencial.com