Repsol strengthens its alliance with Pontegadea through a 618 MW renewable portfolio

Repsol has formed a new alliance with Pontegadea, one of the world's leading private investment groups, incorporating it as a partner, with a 49% stake, in a portfolio of 618 MW of renewable assets for €363 million. The transaction values the total portfolio at €740 million.

This agreement, the third time Pontegadea takes a stake in Repsol's renewable assets, consolidates the alliance between the two companies and reinforces Repsol's strategy of bringing in partners or investors in businesses to accelerate the achievement of objectives and maximize the return on the group's operations. This portfolio of assets is made up of twelve wind farms located in Huesca, Zaragoza, and Teruel (the region of Aragon), and Valladolid (Castile and Leon), with a total installed capacity of 398 MW, as well as two PV solar plants, located in Albacete (Castile-La Mancha) and Cadiz (Andalusia), with 220 MW. In addition, the portfolio includes projects with hybridization potential, which would add an additional 279.2 MW. Together, the power generated by these assets will avoid the emission of around 714,450 tons of CO₂ into the atmosphere each year.

Pontegadea has previously partnered with Repsol, taking minority stakes (49%), in two other renewable assets: the Delta wind farms (Zaragoza, Aragon), in November 2021, for €245 million, and the Kappa photovoltaic complex (Manzanares, Castile-La Mancha) in July 2022, for €27 million. In addition to Pontegadea, Repsol has incorporated The Renewables Infrastructure Group (TRIG) in the Valdesolar photovoltaic complex (Badajoz) and has forged an alliance with Credit Agricole Assurances and EIP in the company's renewable generation business to boost its growth.

Repsol has a global renewable energy portfolio of 2,300 MW in operation, 3,000 MW under construction, and a portfolio of projects at different stages of development in Spain, the United States, Chile, and Italy. It aims to reach 6,000 MW of installed renewable generation by 2025 and 20,000 MW by 2030.