“We are proud to strengthen our alliance with Pontegadea through another equity stake in a second Repsol renewable asset. Their confidence in our project will allow us to continue to grow steadily in this business created just over three years ago,” commented Repsol CEO Josu Jon Imaz.
The three-year-old business Imaz is referring to is Repsol Renovables, which the oil-and-gas group launched in 2019 as a vehicle for its operations in the renewables space. In June this year, Repsol agreed to sell a 25% stake in Repsol Renovables to a consortium of French insurance group Credit Agricole Assurances and Switzerland-based investment manager Energy Infrastructure Partners AG (EIP).
In another transaction this year, Repsol sold a 49% stake in its 264-MW Valdesolar solar farm to The Renewables Infrastructure Group (LON:TRIG).
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