Repsol and Masdar have signed an agreement under which the latter will acquire a 49.99% interest in a portfolio of renewable energy assets in Spain for \u20ac849m ($980.2m).<\/p>\n
The portfolio comprises a total operational capacity of 705MW across 13 wind farms, offering 402MW, and six photovoltaic solar parks totalling 303MW.<\/p>\n
All the assets in the portfolio commenced operations in 2025 and the first quarter of 2026.<\/p>\n
The deal also involves more than 565MW of potential hybridisation growth from future wind, solar and battery storage projects.<\/p>\n
The agreement was signed in Abu Dhabi by Masdar CEO Mohamed Jameel Al Ramahi and Repsol low-carbon generation executive managing director Jo\u00e3o Costeira.<\/p>\n
Completion of the transaction is anticipated towards the end of 2026, pending customary regulatory approvals.<\/p>\n
For Repsol, the sale is part of an ongoing asset rotation strategy within its renewables division, which aims to optimise its financial structure, pursue growth with partners and transfer parts of its portfolio.<\/p>\n
This is the company\u2019s eighth renewables transaction, bringing the total capacity rotated across Spain and the US to 3.85GW.<\/p>\n
Currently, Repsol has 6GW of renewable capacity in operation.<\/p>\n
In December 2025, Repsol obtained \u20ac550m in syndicated financing for this portfolio from lenders Abanca Corporaci\u00f3n Bancaria, Banco Sabadell, BNP Paribas, CaixaBank, Spain\u2019s Instituto de Cr\u00e9dito Oficial and UniCredit Bank.<\/p>\n
Repsol low-carbon generation executive managing directorJo \u00e3o Costeira said: \u201cThis agreement marks another step forward in our strategy to maximise profitability, enabling us to bring in a leading global partner in the renewable energy sector, while further strengthening the value of our high-quality asset portfolio.\u201d<\/p>\n
Masdar\u2019s acquisition supports its objective to increase its renewable assets in key markets as it works towards reaching 100GW of worldwide operational capacity by 2030.<\/p>\n
Once the deal is completed, Masdar will have 4.1GW in operation across the Iberian Peninsula and approximately 1GW under development.<\/p>\n
Jameel Al Ramahi said: \u201cSpain is one of Europe\u2019s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth.<\/p>\n
\u201cThis transaction strengthens Masdar’s portfolio, while deepening our support for Spain\u2019s economic ambitions.<\/p>\n
\u201cWe look forward to investing in the growth of these assets, and to building on our strong partnership with Repsol.\u201d<\/p>\n