Repsol has reached an agreement to sell a 49% stake in its 335MW Delta wind farm in Spain.
Pontegadea is investing €245m to partner in the operational wind farm located in the province of Zaragoza.
Repsol said the deal demonstrates the “soundness” of its renewable growth model based on the development of projects from the initial stages through start-up.
Delta has been fully operational since March.
Repsol CEO Josu Jon Imaz said: “Having Pontegadea as a partner in Delta confirms the quality of our assets and will allow us to accelerate our growth in renewables within the framework of an efficient and sustainable energy transition and with the goal of being a net zero emissions company by 2050.”
Pontegadea CEO Roberto Cibeira added: “This transaction, with a solid and reliable partner such as Repsol, is part of Pontegadea’s overall investment strategy and strengthens the environmental commitment that accompanies all the activities in our portfolio, whether in the energy sector, real estate asset management or textile distribution.”