The Renewables Infrastructure Group (TRIG) will invest €117m to become a minority shareholder in Valdesolar, Repsol’s 264MW solar project in Spain.
With deal values Valdesolar at €239m and Repsol will retain operational control of the plant.
Joao Costeira, executive director of low carbon generation at Repsol, said: “We are delighted to incorporate TRIG as a strong partner in Valdesolar.
“This transaction again demonstrates the attractiveness of our renewable projects, accelerating the crystallisation of value in operating assets, with the objective of reinvesting in new opportunities that will help us reach 6 GW of installed renewable generation capacity by 2025, and 20GW by 2030.”
Valdesolar, located in Valdecaballeros (Badajoz), has been operational since the third quarter of 2021.
The deal with TRIG is the second transaction of this type that Repsol has finalised since November following the sale of a minority stake in the Delta wind project, in line with its strategy of rotating renewable assets.