Repsol has reached an agreement to sell 49% of its largest portfolio of renewable assets in Spain to the Emirati group Masdar , in a transaction valued at approximately 850 million euros , which reinforces the Spanish energy company's asset rotation strategy.
The transaction includes the Minerva project, a renewable energy platform with a total installed capacity of 706 MW, comprised of 13 wind farms and six photovoltaic solar plants distributed across Spain. According to sources close to the deal, the agreement is in its final stages and could be finalized in the coming weeks.
With this operation, Repsol maintains operational control and majority shareholding of the assets, while incorporating Masdar as a long-term strategic partner in one of the largest renewable portfolios in the country.
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The Spanish company is thus continuing to advance its growth plan in low-carbon power generation, while strengthening its financial position to drive new investments in clean energy and international expansion. The sale is part of a strategy previously implemented by major European energy groups: monetizing mature assets without losing management capacity or industrial presence.
For Masdar, owned by Abu Dhabi and one of the world's leading investors in renewable energy, the deal consolidates its presence in the Iberian market. The Emirati group has already made other significant investments in Spain, including the acquisition of Saeta Yield and agreements with Spanish energy companies for the development of solar and green hydrogen projects.
The Minerva project had recently obtained syndicated bank financing of more than 550 million euros, with participation from entities such as CaixaBank, Sabadell, Abanca, BNP Paribas, ICO and Unicredit.
The alliance between Repsol and Masdar reflects the growing interest of international investors in the Spanish renewable energy market, considered one of the most attractive in Europe due to its growth potential and clean generation capacity.