Repsol is finalizing a $994M deal to sell a 49% stake in its 706 MW Spanish renewables portfolio to UAE clean energy giant Masdar, Cinco Dias reported.
Spanish energy giant Repsol is in the final stage of selling a 49% stake in its largest renewables portfolio in Spain to Masdar , the clean energy giant of the United Arab Emirates UAE, Spanish daily Cinco Dias reported on Monday, citing sources close to the deal.
Repsol is finalizing a deal to sell to Masdar 49% in the Minerva project, which is valued at $994 million 850 million euros and comprises 706 megawatts MW of installed capacity across 13 wind farms and six photovoltaic plants. The deal, expected to be finalized within weeks, is aimed at raising capital at Repsol by welcoming a minority partner in the renewable asset portfolio, Cinco Dias reported.
As part of its 2026-2028 strategic plan, Repsol will be looking to boost its renewable generation capacity and maximize the value of these assets through the entry of partners. By 2028, Repsol expects to have up to 9,000 MW of operating renewable energy projects of greater value and return — especially in wind, solar, and storage initiatives.
This strategy prioritizes the most profitable opportunities in Spain and the United States, with the aim of maximizing value generation and ensuring returns surpassing 10%, the company says. Masdar, for its part, aims to become one of the world's biggest renewable energy companies with global assets with a combined capacity of 100 GW by 2030. Masdar's shareholders are Abu Dhabi's oil giant ADNOC, Abu Dhabi's sovereign investment company Mubadala, and state utility giant TAQA.
The UAE firm already has strong foothold on the Iberian markets in Spain and Portugal, thanks to deals in recent years to acquire stakes in solar and wind assets. In 2024, Masdar bought Saeta Yield from Brookfield for $1.4 billion, boosting its portfolio with 745 MW of predominantly wind assets, and a 1.6 GW development pipeline in Spain and Portugal.
Last year, Masdar acquired a 49.99% stake in a portfolio comprising four operational solar PV plants from Enel Green Power Espana S.L. , a subsidiary of Endesa. By Michael Kern for Oilprice.com
Masdar Spain Renewables UAE Energy Investment Wind Energy Spain Solar Energy Spain Minerva Project ADNOC Mubadala European Clean Energy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spanish holidaymakers face heavy fines under new six-drink rule in Balearic IslandsSpanish authorities are cracking down on excessive partying in the Balearic Islands, with tourists risking fines up to €3,000 for public drinking and anti-social behavior. The 2024 Responsible Tourism Decree bans alcohol consumption on streets, particularly in Magaluf and San Antonio, as locals protest overtourism and rowdy behavior.
Read more »
Spanish media deliver Marcus Rashford verdict as Man United ace sends Barcelona transfer messageMarcus Rashford's cameo against Osasuna left the Spanish media all saying the same thing about the Manchester United loanee
Read more »
Espanyol vs Real Madrid: Spanish La Liga stats & head-to-headFollow live text commentary, score updates and match stats from Espanyol vs Real Madrid in the Spanish La Liga
Read more »
Woman stabbed to death in random attack at Spanish holiday hotspotThe victim was pronounced dead at the scene.
Read more »
Death of Glasgow prisoner on Christmas Eve to be probedRobert Campbell was 49 years old when he died.
Read more »
Two cabin crew members arrested at Manchester AirportPolice were called to an inbound flight at Gate 49 at Manchester Airport on Saturday afternoon
Read more »