Repsol Sells 49% Stake in Wind and Solar Projects to Schroders for €580 Million

Repsol has announced the sale of a 49% stake in a portfolio of renewable energy assets to Schroders Greencoat, a subsidiary of Schroders Capital that specializes in managing renewable infrastructure. The deal, valued at €580 million, is part of Repsol’s broader strategy to accelerate its growth in the clean energy sector while maximizing returns on investment.

The portfolio includes eight wind farms totaling 300 megawatts (MW), located across the Spanish provinces of Huesca, Zaragoza, and Teruel. Additionally, it features two solar photovoltaic plants in Palencia, which collectively add another 100 MW. In total, the renewable assets involved in the transaction account for 400 MW of capacity.

Repsol, under the leadership of CEO Josu Jon Imaz, expects all of these assets to become fully operational during the first half of 2025. However, the closing of the deal remains contingent on the completion of administrative procedures required by the buyer.

Schroders Greencoat is one of the leading renewable infrastructure managers in Europe. The firm currently oversees more than 430 renewable assets across the United Kingdom, Europe, and the United States, representing a combined net generation capacity exceeding 7.4 gigawatts (GW). The company’s strategy focuses on providing investors with reliable, long-term cash flows through high-quality, sustainable infrastructure investments.

Repsol emphasized that this partnership aligns with its long-term renewable energy goals. “This agreement marks another step forward in Repsol’s renewable energy strategy. We’re focused on optimizing the financial structure and improving project profitability by bringing partners into our assets. This allows us to maximize value creation and secure double-digit returns,” the company stated in an official release.

As part of this transaction, Repsol had previously secured long-term syndicated financing worth €348 million in December of last year. The financing deal involved major institutions, including BBVA, Crédit Agricole CIB, Banco Sabadell, and Spain’s Official Credit Institute (ICO).

This acquisition also represents the first investment for Schroders Greencoat Europe SCSp, a fund that successfully completed its initial fundraising round in November 2024. The fund secured over €220 million in capital commitments during its launch phase.

“We are thrilled to announce the first acquisition by the Fund,” said Adam Basnett, Portfolio Manager at Schroders Greencoat. “Partnering with Repsol represents an important first step in our investment strategy. We look forward to working closely with them to deliver long-term value to our clients through high-quality assets supported by long-term power purchase agreements.”

This strategic move reinforces Repsol’s commitment to its renewable energy roadmap and highlights the growing interest from institutional investors in Spain’s clean energy market. By bringing in a trusted partner like Schroders, Repsol aims to scale its operations while maintaining profitability and a strong financial footing.