Repsol has acquired Asterion Energies, which manages a portfolio of renewable assets of 7,700 MW in Spain, Italy, and France for European infrastructure fund Asterion International, for a total of €560 million plus contingent payments of up to €20 million.
The transaction represents a new milestone in the fulfillment of Repsol’s 2021-2025 Strategic Plan, which foresees reaching 6,000 MW of installed renewable generation capacity by 2025 and 20,000 MW by 2030.
Repsol thus strengthens its presence in key European markets and consolidates its international expansion in OECD markets. The company already has more than 1,600 MW of renewable capacity installed in Spain, the United States, Chile, and Portugal.
Josu Jon Imaz, CEO of Repsol, said: “We are realizing our ambition to be leaders in the energy transition by taking firm steps such as this asset acquisition to meet our goals of growth, diversification, and focus on multi-energy. The projects and human talent that we are incorporating with this transaction perfectly complement our strategy.”
Jesus Olmos, Chief Executive Officer of Asterion Industrial, said: “We are proud to have created this European platform from scratch and to have achieved exponential growth over the last three years. We are convinced that Repsol is the ideal partner to continue this growth story and so contribute to the energy transition.”