Repsol and Pontegadia acquired 126.7 MW of the Kappa PV complex

Repsol and Pontegadia acquired 126.7 MW of the Kappa PV complex

Repsol and Pontegadia are once again linked by a renewed project. Pontegadia, one of the world’s major private investment groups, acquires, for 27 million euros, a 49% stake in the Kappa photovoltaic complex, located in Manzanares (Ciudad Real). This investment, in The facility is fully operational as of 2021 and has a total capacity of 126.7 MWis Amancio Ortega’s second renewable energy operation after it received, last November, a similar stake in the multi-energy company’s Delta wind farm.

The agreement assumes that Kappa is valued at €109 million, including project debt. The facility has three floors: Perseo Foton I, Perseo Foton II, and Perseo Foton III.. It consists of 285331 solar units Providing electricity from renewable sources to 71,000 homes “about 177,500 people” would avoid the emission of approximately 107,600 tons of carbon dioxide into the atmosphere each year, the equivalent of absorbing carbon dioxide by 13.5 million trees.

On November 11, Pontigadia invested 245 million euros to acquire 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 granted entry to a minority shareholder, given that in March 2022 it also included its Renewable Energy Infrastructure Group (TRIG) to 49% of the Valdecaballeros PV plant (Valdecaballeros, Badajoz).

Business boom
Last June, the Repsol Board of Directors approved Sale of a 25% stake in Repsol Renovables to a consortium made up of French insurance company Crédit Agricole Assurances and funds managed by Energy Infrastructure Partners (EIP), based in Switzerland. Incorporating Crédit Agricole Assurances and EIP as partners entails an investment commitment Repsol Renovables is growing in line with the ambitious targets of its strategic plan to reach 6 GW of renewable generation in 2025 and 20 GW in 2030.

The company currently has Portfolio of over 1.6 gigawatts of installed renewable energy It is present in Spain, the United States and Chile, and is also involved in the WindFloat offshore wind project in Portugal.

In the past two years, Repsol has successfully achieved its goals of geographic diversification of its renewable energy business, complementing its capabilities, improving its portfolio, and creating a solid platform with significant growth potential, with the ambition to become a global low-emissions operator.

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