Repsol to Sell 49% Stake in Renewable Power Plants in Spain, El Confidencial Says

Source Press
Company Repsol
Tags Country: Spain, M&A: Asset Deal, Deals, Renewables: Renewables News, Segment: Power
Date May 24, 2023

Spanish energy company Repsol REP.MC plans to sell a 49% stake in a series of wind farms and photovoltaic power plants in Spain, El Confidencial reported on Wednesday, citing unidentified industry sources.

The transaction would be worth between 700 million and 800 million euros ($771-$881 million), El Confidencial added.

The renewable energy plants close to be operating or already producing power have a total capacity of 600 megawatts and are located in Andalusia, Aragon, Castile-La Mancha and Castile and Leon, the website said.

A spokesperson at Repsol did not immediately respond to a request for comment.

With its sunny plains, heavily dammed rivers and windy hillsides, Spain is attracting investors to renewable energy projects as the government seeks to reduce greenhouse gas emissions in 2030 to 30% less than were emitted in 1990.

Like Repsol, other investors and utilities are raising cash to invest in new projects from selling stakes in more advanced ones.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd