Repsol has successfully completed the sale of a 49% stake in their renewable portfolio, which includes 398 MW of wind projects and 220 MW of solar projects, to Pontegadea for €363mn. This strategic move, valuing the deal at €1.2mn/MW, will allow Repsol to reinvest in new endeavors, similar to their recent entry into the US renewable market through the acquisition of ConnectGen.
In a similar vein, Portuguese firm Galp is planning to sell a 49% stake in its 1.6 GW solar PV portfolio in Spain for ~€780mn. If completed, the deal will be valued at €0.93mn/MW, which is in line with the median of deal metrics reported for operational solar assets transacted in the country during the last two years.
Mohit Kaul
Top Contributor