Repsol and Abu Dhabi Future Energy Company – Masdar have signed an agreement for Masdar to acquire a 49.99% stake in a renewable energy portfolio in Spain . The transaction values the portfolio at €849 million.
The portfolio comprises 705 MW of operational capacity , including 13 wind farms (402 MW) and 6 photovoltaic solar parks (303 MW), all of which will be operational by 2025 and the first quarter of 2026. In addition, the portfolio includes more than 565 MW of potential growth through hybridization, encompassing wind, solar and battery storage.
Mohamed Jameel Al Ramahi , CEO of Masdar, stated: “Spain is one of Europe’s largest and fastest-growing economies, and renewable energy is playing a key role in driving that growth. This transaction strengthens Masdar’s portfolio while further reinforcing our support for Spain’s economic ambitions. We look forward to investing in the growth of these assets and continuing to consolidate our strong partnership with Repsol.”
For his part, João Costeira, Repsol's General Manager of Low Carbon Generation, highlighted: “This agreement represents a further step forward in our strategy to maximize profitability, allowing us to incorporate a leading global partner in the renewable energy sector, while continuing to strengthen the value of our high-quality asset portfolio.”
The transaction is expected to close by the end of 2026, subject to customary regulatory approvals.
This agreement is part of Repsol's renewable energy strategy, aimed at optimizing the business's financial structure, accelerating growth with strategic partners, and rotating part of its portfolio. This is Repsol's eighth rotation of renewable assets, totaling 3,850 MW in both Spain and the United States. Repsol currently has 6,000 MW of renewable capacity in operation.
The acquisition continues Masdar's strategy of partnering with other industry leaders to drive the deployment of renewable energy globally, with the goal of reaching 100 GW of capacity by 2030. Once the transaction is completed, Masdar will have an operational capacity of 4.1 GW in the Iberian Peninsula and approximately 1 GW under development.
In the context of this operation, Repsol closed in December 2025 a syndicated financing of 550 million euros for this portfolio, granted by Banco Sabadell, Abanca Corporación Bancaria, CaixaBank, BNP Paribas, UniCredit Bank and the Instituto de Crédito Oficial (ICO).