repsol And Amancio Ortega They are expanding their energy alliance renewable. The energy group has signed an agreement with Pontegadea, the investment arm of Inditex founder, to sell a 49% stake in a 618 megawatt (MW) portfolio of renewable assets distributed across Spain for 363 million euros.
This is Ortega’s largest operation in the energy sector and the third green energy agreement signed with Repsol. The transaction values the total renewable portfolio, which has so far been entirely held by Repsol, at 740 million euros.
The portfolio that Pontegadea and the oil company will share consists of: twelve wind farms 398 MW located in Aragon and Castilla y León; two photovoltaic power plants 220 MW in Castilla-La Mancha and Andalusia; and also projects hybridization potential An additional 279 MW could be added (combined into a single wind and solar installation).
HE Ortega’s investment vehicle previously partnered with Repsol With the acquisition of a 49% stake in two renewable assets: in the Delta wind farm (Zaragoza) in November 2021 for 245 million euros and in the Kappa photovoltaic complex (Manzanares, Ciudad Real) in July 2022 for 27 million euros.
Pontegadea has been directing its investments to the energy sector in recent years and has significant shares in key companies in the energy transition. HE founder of Inditex The manager of the gas system, which includes fashion distribution brands such as Zara, Massimo Dutti, Pull&Bear, Stradivarius or Bershka, has a 5% stake in Enagás and its green subsidiary Enagás Renovables, as well as a 5% stake in Redeia – the former Red Eléctrica Corporación and 12%. si at Portuguese electricity grid operator REN.
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 USA, Chile and Italy. As part of its plan to establish itself as a multi-energy company, its target is to reach 6,000 MW of installed renewable generation by 2025 and 20,000 MW by 2030. In addition to Pontegadea, Repsol acquired the Renewable Energy Infrastructure Group (TRIG) at the Valdesolar photovoltaic plant (Badajoz) and formed an alliance with Credit Agricole Assurances and EIP in its renewable energy generation business to boost its growth.