Repsol sells 25% stake in Repsol Renovables to Crédit Agricole Assurances and EIP

By Global Infrastructure Sherpa · Jan 26, 2024

Stake Sale Renewable Energy announced Spain Jan 26, 2024

EUR745M

Deal Value

1.6 GW

Capacity

Repsol sold a 25% stake in Repsol Renovables to Crédit Agricole Assurances and Energy Infrastructure Partners (EIP) for €745 million. Uría Menéndez advised Repsol on the transaction.

Source Intelligence

KEY DETAILS

Repsol expects to reach 2.1GW of installed capacity in the US by 2025, and 7.8GW by 2030. Quote: "The Spanish oil major expects to reach 2.1GW of installed capacity in the US by 2025, a figure which is to more than treble to 7.8GW by 2030."

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Deal Size

The €905 million (US$948 million) transaction will contribute to the unit’s continued growth in the renewables market, facilitating entry into newer markets and in offshore wind with the consortium committed to increasing investment.

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Capacity

Repsol Renovables’ current portfolio of installed capacity sits at 1.6GW across Spain, the US, Chile and Portugal, with a target to reach 6GW by 2025 and 20GW by 2030.

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Location

Repsol Renovables’ current portfolio of installed capacity sits at 1.6GW across Spain, the US, Chile and Portugal, with a target to reach 6GW by 2025 and 20GW by 2030.

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Financials

The deal values Repsol’s renewable arm at more than €4.3 billion.

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Announcement

By Jonathan Touriño Jacobo June 13, 2022

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Expected Close

Effective from 1 January 2022, the transaction is expected to close by the end of the year, subject to regulatory approvals.

PARTIES MENTIONED IN SOURCE

Repsol seller

"Spanish oil and gas major Repsol has sold a 25% stake of its renewables arm to a consortium formed by French insurance Crédit Agricole Assurances and Energy Infrastructure Partners (EIP)."

Crédit Agricole Assurances buyer

"Spanish oil and gas major Repsol has sold a 25% stake of its renewables arm to a consortium formed by French insurance Crédit Agricole Assurances and Energy Infrastructure Partners (EIP)."

Energy Infrastructure Partners (EIP) buyer

"Spanish oil and gas major Repsol has sold a 25% stake of its renewables arm to a consortium formed by French insurance Crédit Agricole Assurances and Energy Infrastructure Partners (EIP)."

Telefonica N/A

"Earlier this year, Repsol had formed a joint venture with telecommunications giant Telefonica that will provide solar installs and energy services in the self-consumption sector across different target markets in Spain."

Hecate developer

"Repsol made its first foray into the US market last year with the acquisition of a 40% stake in solar and battery storage developer Hecate and a further investment in a 600MW solar PV project in the state of Texas."

high quality Enriched Feb 19, 2026