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home / news releases / REPYY - Repsol sells 25% stake in renewables unit in Euro905M deal

REPYY - Repsol sells 25% stake in renewables unit in Euro905M deal

Repsol S.A. ADR
Repsol (OTCQX:REPYF) (OTCQX:REPYY) said Thursday it agreed to sell a 25% stake in its renewable energy business to Credit Agricole and Energy Infrastructure Partners for €905M (~$970M), culminating months of talks with potential buyers. The deal values the Repsol Renovables unit, which is building wind, solar and hydro plants in Spain, Portugal, Chile and the U.S., at €4.38B including debt, the company said. Repsol (OTCQX:REPYF) (OTCQX:REPYY) CEO Josu Jon Imaz said the investment supports the company's aim to have total renewable energy capacity of 6 GW in 2025 and 20 GW in 2030. The sale could accelerate Repsol's low-carbon initiatives, a move that would be viewed favorably by regulators.

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Repsol sells 25% stake in renewables unit in €905M deal
Stock Information
Company Name: Repsol S.A. ADR
Stock Symbol: REPYY
Market: OTC
Website: repsol.com
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