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Repsol acquires Asterion Energies

Repsol announces the acquisition of Asterion Energies from the European infrastructure fund Asterion Industrial.

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Repsol announces the acquisition of Asterion Energies from the European infrastructure fund Asterion Industrial.

A strategic acquisition

Repsol acquires Asterion Energies for €560 million plus €20 million contingent. The transaction is an important step in Repsol’s ambition to become a global player in renewable energy. Thus, the Spanish company seeks to strengthen its position in key markets in Europe.

Asterion Energies manages a portfolio of renewable energy projects, mostly under development, totaling 7700MW. 84% of this power is located in Spain against 12% in Italy. Finally 4% are in France.

Asterion Energies’ portfolio of assets includes 4900MW of solar and 2800MW of wind generation. In addition, 2500MW are in advanced stages of development or under construction. In addition, Repsol is integrating Asterion Energies’ renewable assets and energy storage development teams.

A diversified portfolio

Josu Jon Imaz, CEO of Repsol, states:

“We are realizing our ambition to be leaders in the energy transition, taking firm steps, such as this asset acquisition, to achieve our goals of growth, diversification and multi-energy focus. The projects and human talent we are incorporating with this transaction perfectly complement our strategy.”

In addition, in 2019, the Spanish company committed to achieving net zero emissions by 2050. Thus, the company is making progress in achieving its objectives of geographic diversification of its renewable energy business.

Repsol’s 2021-2025 strategic plan calls for reaching 6,000MW of installedrenewable energy generation capacity by 2025. In addition, the company aims to reach 20,000 MW by 2030. Prior to this transaction, the portfolio of renewable energy projects amounted to 1600MW.

Repsol has 1470MW of installed renewable energy capacity in Spain. In addition, it owns 62.5MW in the United States, 96MW in Chile and 3MW of the WindFloat Atlantic floating wind farm in Portugal. In addition, it has more than 2000MW under construction, including 1180MW in Spain, 719MW in the United States and 120MW in Chile.

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