Repsol to sell stake in 618MW renewable energy assets in Spain

Repsol is all set to sell a stake in a 618MW portfolio of renewable energy assets in Spain.

The company has agreed to sell the stake to a private investment group Pontegadea.

According to the company, Pontegadea will acquire the 49% stake for €363 million, with the entire portfolio valued at €740 million.

It informed that the portfolio consists of 12 wind farms with a total installed capacity of 398MW. The projects are located in Huesca, Zaragoza and Teruel (Aragon), and Valladolid (Castile and Leon).

Besides, it will have two solar plants with a total capacity of 220MW. The projects are located in Albacete (Castile-La Mancha) and Cadiz (Andalusia), the companies shared.

In addition, the portfolio includes projects which would add an additional 279.2MW.

Earlier, Pontegadea and Repsol had worked in partnership with the former having minority stakes in two renewable assets. The company has stakes in the Delta wind farms and the Kappa photovoltaic complex.