Repsol and Pontegadea have partnered on another renewable energy project. Pontegadea, one of the world’s leading private investment groups, has acquired a 49% stake in the Kappa photovoltaic complex in Manzanares (Ciudad Real) for 27 million euros. This investment, in a facility fully operational since 2021 and with a total installed capacity of 126.7 MW, is the second transaction in renewables by Amancio Ortega’s company after taking a similar stake in the multi-energy company’s Delta wind farm last November.
The agreement values Kappa at 109 million euros, including project debt. The facility consists of three plants: Perseo Foton I, Perseo Foton II and Perseo Foton III. It has 285,331 solar modules and supplies electricity from renewable sources to 71,000 households – or 177,500 people – avoiding the emission of around 107,600 tons of CO2 into the atmosphere each year, equivalent to the carbon dioxide absorption of 13.5 million trees.
On November 11, Pontegadea invested 245 million euros to take a 49% stake in Delta, a wind farm located in the province of Zaragoza.
For Repsol, this is the third transaction in which it has brought in a minority partner since March 2022. Repsol incorporated The Renewables Infrastructure Group (TRIG) in the Valdesolar photovoltaic plant (Valdecaballeros, Badajoz) with a 49% stake.
“We are proud to strengthen our alliance with Pontegadea through another equity stake in a second Repsol renewable asset. Their confidence in our project will allow us to continue to grow steadily in this business created just over three years ago,” said Repsol CEO Josu Jon Imaz.
Roberto Cibeira, CEO of Pontegadea, said: “This second transaction with Repsol responds to Pontegadea’s global investment strategy, consolidating the environmental commitment that accompanies all the activities in our portfolio and reinforcing our firm commitment to sustainability, hand in hand with a reference partner such as Repsol.”
Image source: Courtesy of Repsol
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