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Repsol to Sell Stake in EUR849 Million Spanish Renewable Portfolio to UAE's Masdar

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Repsol (REP.MC) agreed to sell a 49.99% stake in a renewable energy portfolio in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, in a deal that values the portfolio at 849 million euros.

The 705-megawatt portfolio comprises operational 13 wind farms and six solar parks, according to a Thursday release. The Spanish oil and gas company said the assets also include more than 565 megawatts of potential hybridization pipeline growth through wind, solar and battery storage.

The deal is expected to be completed by the end of the fourth quarter, subject to regulatory approvals.

Abu Dhabi National Energy Co., (ADX:TAQA) d/b/a Taqa, holds a 43% stake in renewable energy company Masdar.

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