- Repsol SA REPYY has acquired Asterion Energies from European infrastructure fund Asterion Industrial for €560 million plus as much as €20 million in contingent funds.
- Repsol expects the deal to strengthen its presence in key European markets and consolidates its worldwide enlargement in OECD markets.
- Asterion Energies manages a portfolio of renewable initiatives principally beneath improvement totaling 7,700 megawatts (MW) in Spain (84%), Italy (12%), and France (4%).
- Asterion’s asset portfolio consists of 4,900 MW of PV photo voltaic and a couple of,800 MW of wind era, of which 2,500 MW are at a sophisticated stage of improvement or beneath development.
- “We’re realizing our ambition to be leaders within the vitality transition, taking agency steps, similar to this asset acquisition, to fulfill our targets of development, diversification, and deal with multi-energy,” stated Repsol CEO Josu Jon Imaz.
- In 2019, Repsol dedicated to attaining zero internet emissions by 2050.
- The corporate’s 2021-2025 Strategic Plan envisages reaching 6,000 MW of put in renewable era capability by 2025 and 20,000 MW by 2030.
- Repsol entered the U.S. renewables market by buying 40% of Hecate Power.
- Value Motion: REPYY shares closed decrease by 0.46% at $15.14 on Thursday.
- Photograph By way of Wikimedia Commons
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