popular articles

Repsol sells 49% stake in Spanish wind and solar portfolio to Schroders Greencoat

Repsol has sold a 49% minority stake in a 400 MW renewable portfolio in Spain to Schroders Greencoat for €580 mn, confirming its co-investment strategy to optimise project profitability.

Please share:

Repsol S.A. has entered into an agreement with Schroders Greencoat, the specialist renewable infrastructure manager of Schroders Capital, for the sale of a 49% stake in a 400-megawatt (MW) wind and solar electricity generation portfolio located in Spain. The transaction values the entire portfolio at €580 mn, according to the statement released on 26 March.

The portfolio includes eight wind farms, totalling 300 MW, located in the provinces of Huesca, Zaragoza, and Teruel, as well as two solar plants with a combined capacity of 100 MW in the province of Palencia. All facilities are expected to be operational in the first half of 2025. Repsol will retain control of the assets.

Financial structuring and optimisation strategy

As part of the transaction, Repsol secured a €348 mn syndicated loan in December 2024 from Banco Bilbao Vizcaya Argentaria (BBVA), Crédit Agricole Corporate and Investment Bank (CIB), Banco Sabadell, and the Spanish Official Credit Institute (ICO). The objective is to optimise the financial structure of its projects and secure double-digit returns.

This is the fifth such operation undertaken by Repsol since November 2021. The company currently operates 3,700 MW of renewable capacity, more than 2,600 MW of which are in Spain, and it maintains a global development pipeline of 60,000 MW at various stages.

First deal by Schroders Greencoat Europe Fund

For Schroders Greencoat, this acquisition represents the inaugural investment by the Schroders Greencoat Europe SCSp Fund, launched in November 2024 with over €220 mn in initial capital. The fund aims to build a diversified portfolio of energy transition assets across Europe, with a primary focus on renewable infrastructure, complemented by investments in storage, renewable hydrogen, energy efficiency, and mobility.

Adam Basnett, Portfolio Manager at Schroders Greencoat, stated that the partnership with Repsol represents a strategic step for the fund, involving high-quality assets backed by long-term power purchase agreements. Victor Monje, Head of Investments for Iberia, underlined Schroders’ commitment to expanding its footprint in Spain, a key market since 2022.

Schroders Greencoat manages over 430 renewable infrastructure assets across Europe, the United Kingdom, and the United States, with a combined net generation capacity exceeding 7.4 gigawatts (GW). The company, founded in 2009, specialises in executing investment strategies in energy infrastructure.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Italian group ERG has completed an 18 MW wind farm in Pas-de-Calais, backed by a 20-year contract for difference and developed without external partners.
Rising installations and the integration of predictive technologies are driving the wind turbine operations and maintenance market, projected to hit $59.67bn by 2030, according to MarketsandMarkets.
Rising installations and the integration of predictive technologies are driving the wind turbine operations and maintenance market, projected to hit $59.67bn by 2030, according to MarketsandMarkets.
Danish group Ørsted halts development of its Hornsea 4 offshore wind project in the UK, citing financial and operational risks that no longer guarantee returns for shareholders.
Danish group Ørsted halts development of its Hornsea 4 offshore wind project in the UK, citing financial and operational risks that no longer guarantee returns for shareholders.
Danish wind turbine manufacturer Vestas posts an unexpected net profit despite tariff tensions and confirms its 2025 outlook.
Danish wind turbine manufacturer Vestas posts an unexpected net profit despite tariff tensions and confirms its 2025 outlook.
Clearway Energy strengthens its presence in Washington State with the purchase of the 137 MW Tuolumne wind project, securing a 15-year power purchase agreement with Turlock Irrigation District.
Danish developer Ørsted has finalised the sale of 24.5% of its stake in the UK’s West of Duddon Sands wind farm to funds managed by Schroders Greencoat for GBP456.1mn ($571mn).
Danish developer Ørsted has finalised the sale of 24.5% of its stake in the UK’s West of Duddon Sands wind farm to funds managed by Schroders Greencoat for GBP456.1mn ($571mn).
The Princess Elisabeth energy island project advances with the placement of two caissons, launching a key phase of marine civil engineering off the Belgian coast.
The Princess Elisabeth energy island project advances with the placement of two caissons, launching a key phase of marine civil engineering off the Belgian coast.
Equinor condemned the mid-April suspension of its offshore wind farm Empire Wind 1 near New York, a $2.5bn project halted by U.S. authorities, labelling the move illegal.
Equinor condemned the mid-April suspension of its offshore wind farm Empire Wind 1 near New York, a $2.5bn project halted by U.S. authorities, labelling the move illegal.
Despite turbines priced 30 to 40% lower, Chinese manufacturers struggle to overcome credibility barriers hindering their progress in the European wind sector.
Greenvolt Power has finalised the sale of the Pelplin wind farm in Poland to Enea Nowa Energia for €174.4mn, reinforcing its large-scale renewable asset monetisation strategy.
Greenvolt Power has finalised the sale of the Pelplin wind farm in Poland to Enea Nowa Energia for €174.4mn, reinforcing its large-scale renewable asset monetisation strategy.
EnBW’s He Dreiht project reaches a major milestone with the installation of the first 15 MW Vestas turbine, marking progress in the construction of the 960 MW wind farm.
EnBW’s He Dreiht project reaches a major milestone with the installation of the first 15 MW Vestas turbine, marking progress in the construction of the 960 MW wind farm.
RWE has started work on a new 22.8 megawatt onshore wind farm in Papenhagen, northeastern Germany, after winning a tender from the Federal Network Agency.
RWE has started work on a new 22.8 megawatt onshore wind farm in Papenhagen, northeastern Germany, after winning a tender from the Federal Network Agency.
China has reached a historic energy milestone with wind and solar capacity now exceeding that from thermal sources, amid an acceleration of new installations.
Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
Ocean Winds has completed the installation of 32 Biohut modules on a floater of its EFGL pilot project, marking a global first for floating offshore wind incorporating artificial habitats for biodiversity.
Ocean Winds has completed the installation of 32 Biohut modules on a floater of its EFGL pilot project, marking a global first for floating offshore wind incorporating artificial habitats for biodiversity.
A recently published study shows that over 50 Connecticut companies are actively participating in offshore wind projects, with growth potential for 450 other companies in the region.
A recently published study shows that over 50 Connecticut companies are actively participating in offshore wind projects, with growth potential for 450 other companies in the region.
US authorities have ordered the halt of Equinor's Empire Wind 1 offshore wind project located off New York, citing insufficient environmental analysis according to the Biden administration. Construction had been underway since 2024.
Belgian group DEME has signed an agreement to acquire Norway’s Havfram for €900 mn, consolidating its fleet and global presence in the offshore wind market.
Belgian group DEME has signed an agreement to acquire Norway’s Havfram for €900 mn, consolidating its fleet and global presence in the offshore wind market.
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
The United States recorded its lowest volume of wind installations in a decade in 2024, according to Wood Mackenzie data, due to tax timing effects and persistent regulatory uncertainty.
The United States recorded its lowest volume of wind installations in a decade in 2024, according to Wood Mackenzie data, due to tax timing effects and persistent regulatory uncertainty.
RWE has signed a 20-year electricity supply agreement with Sanofi, committing to deliver 21 GWh annually from a wind farm located in the Marne region.
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
The Montpellier court has ordered a one-year suspension of the Bernagues wind farm, finding Énergie Renouvelable du Languedoc responsible for the death of a golden eagle, a protected species, in January 2023.
The Montpellier court has ordered a one-year suspension of the Bernagues wind farm, finding Énergie Renouvelable du Languedoc responsible for the death of a golden eagle, a protected species, in January 2023.
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.

Advertising