Repsol has just sold 49% of a portfolio wind and solar of 400 megawatts (MW) in Spain to the firm Schroders Greencoat, specialized manager in renewable infrastructure of Capital Schroders. Specifically, this portfolio includes 8 wind farms, with 300 MW in total, located in Huesca, Zaragoza and Teruel, and two photovoltaic plants of 100 MW in total in Palencia, and has been valued at 580 million euros, as reported by the energy.
Likewise, all assets are planned to be operational throughout the first half of this year and the closing of the operation is subject to Administrative procedures by the buyer.
Schroders Greencoat is one of the largest renewable infrastructure managers in Europe, actively managing more than 430 assets of renewable infrastructure in the United Kingdom, Europe and the United States, with a net generation capacity of more than 7.4 gigawatts (GW) to offer investors resistant cash flows.
The acquisition involves the first investment of the Schroders Greencoat Europe SCSP Fund, which successfully launched its first financing round in November 2024, with more than 220 million euros of initial capital.
The objective of the British firm is to create a diversified portfolio of energy transition assets throughout Europe, focusing especially on renewable energy infrastructure, complemented with an allocation to other investments linked to energy transition such as network infrastructure, battery storage, renewable hydrogen, energy efficiency, mobility and renewable heat.
Repsol’s renewable business
With this new alliance, Repsol takes another step in its strategy in the renewable businessfocused on the optimization of the financial structure and the profitability of the projects incorporating partners to the assets to maximize the generation of value and ensure returns greater than the double digit, while, in addition, it maintains control of assets.
As part of the operation, the energy chaired by Antonio Brufau closed a long -term syndicated financing of 348 million euros with BBVA, Credit Agricole Cib, Banco Sabadell and Ico.
The general director of Low Carbon Generation of Repsol, Joao CostiraHe pointed out that this new alliance with a partner like Schroders Greencoat, one of the most important renewable infrastructure managers in the world, at a time when the offer of renewable assets for sale is wide, “shows the quality and attraction” of the portfolio of the El Mercado Group.
For its part, Adam Basnett, Portfolio Manager From Schroders Greencoat, he indicated that the association with Repsol is the first step in the signature’s investment strategy. “We hope to work together to offer long -term value to our customers with high quality assets backed by long -term electricity sales agreements,” he said.
Fifth operation in renewables
In this way, the group led by Josu Jon Imaz It closes its fifth operation of these characteristics in renewable since November 2021, where it has also forged an alliance with Credit Agricole Assurances and EIP in the renewable generation business to enhance its growth or has closed agreements of the same type of the same type of reached with Schroders Greencoat for Asset Portfolio Green With Pontegadea, the investment firm of Amancio Ortega, or with The Renewables Infrastructure Group (Trig).
With this operation, the company thus closes the first of the divestments that it has open to give entry to partners with a minority participation in renewable projects. In the United States looking for similar operations in their projects Jicarilla, Frye and Outpost.
Repsol currently has 3,700 MW operational and a global portfolio of 60,000 MW projects in different phases of development. In Spain, it has more than 2,600 MW renewables in operation and more than 600 MW in construction and development.
