Galp acquired a portfolio of 15 operating wind farms in Spain, with a combined capacity of 361 MW. The transaction with Acciona Energía will allow the Portuguese company to immediately increase its installed renewable capacity to 2.7 GW and further the technological diversification of its Iberian platform.
The transaction was signed and closed simultaneously, without preconditions, and reflects an enterprise value of EUR 420 million as of January 1, 2026 , with no net debt associated with the assets.
The parks are distributed across different Spanish regions with consolidated wind resources and have an average date of entry into commercial operation in 2005. The portfolio is fully operational and is estimated to produce approximately 0.8 TWh of electricity per year , currently exposed to market conditions.
The purchase adds to another wind power acquisition announced by Galp in April and reinforces its strategy to rebalance a renewable portfolio that until now had a greater concentration in solar generation.
After integrating the new assets, Galp will reach an estimated annual renewable production of around 5 TWh , of which wind power will represent about 30%.
The operation also allows for accelerating capacity growth through existing assets, reducing future organic investment needs and avoiding the development, permitting, and construction timelines associated with new projects.
For Galp, the addition of wind power generation will improve the hourly and seasonal profile of its production. The technology can complement the performance of its solar plants and expand opportunities to capture higher prices during periods of lower solar irradiance or higher electricity demand.
The company thus seeks to reduce its exposure to a single source of generation and build a more balanced platform within the Iberian market.
The acquisition is also part of Galp's ongoing capital optimization initiatives. The company will remain open to incorporating strategic partners, adopting alternative ownership structures, or using new financing mechanisms to support its expansion.
Wind power is gaining importance in Galp's renewable business
The combination of solar and wind assets will allow Galp to have a more diversified generation curve and reduce the concentration of production during the middle hours of the day.
This aspect is gaining importance in Spain due to the growth of photovoltaic capacity, the increased frequency of low prices during solar hours, and the need to complement generation with technologies capable of producing in other periods.
The acquisition will also have a direct impact on the results of the renewables division. On a pro forma basis, and assuming the consolidation of the two wind portfolios acquired since the beginning of the year, Galp estimates that the EBITDA of its renewables business will reach approximately EUR 110 million in 2026 .
The increase reflects both the expansion of scale and the incorporation of mature assets, with an operating history and immediate generation capacity.
For Acciona Energía, the sale is part of an asset rotation strategy that allows it to free up capital and reorganize its portfolio, while Galp strengthens its presence in one of its main European markets.
With this operation, the Portuguese company accelerates its entry into Spanish onshore wind power and makes this technology a relevant part of its renewable energy mix, without depending exclusively on the development of new projects.