Spanish multi-energy group Repsol has joined hands with French utility group Engie to acquire Spain-based renewable energy platform.
The duo is all set to bid for the platform which has an over 6 GW portfolio of projects, according to reports. These projects are currently reported as under development.
It has been reported that the energy developers have already submitted indicative offers for the Spanish energy platform Asterion. It is a portfolio company established in 2019n by investment management firm Asterion Industrial Partners.
A report stated that the developers have “quoted a potential valuation of the target of some EUR 750 million (USD 738.8m), depending on the interest.”
As per reports, Investment bank Greenhill will be handling the sale and collecting non-binging proposals.
Asterion is a company that mostly invests in wind, solar and energy storage technologies in Spain, France and Italy. It has more than 6 GW of greenfield and brownfield projects in the pipeline.
It comes at a time when both the bidding companies are in a move with global decarbonisation efforts. Repsol is focused on raising fund for investments in renewable energies, while Engie has also focused on adding renewables business in its annual capacity.
