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Market Chatter: Repsol to Sell 49% Stake in Spanish Renewables Portfolio to Masdar

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-- Repsol (REP.MC) will sell a 49% interest in a 706-megawatt portfolio of renewable energy assets in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, Spanish newspaper Cinco Días reported Monday, citing unnamed sources.

The Spanish oil and gas company expects to sign the agreement with the renewable energy company in the coming weeks, according to the report.

The portfolio, dubbed the Minerva project, is valued at 850 million euros and comprises 13 wind farms and six solar parks.

Repsol did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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