Abu Dhabi Future Energy Company (Masdar) and Spanish energy corporation Repsol have signed an agreement for Masdar to acquire a 49.99 per cent stake in a renewable energy portfolio in Spain. The transaction values the clean energy portfolio at €849 million ($982.54 million).
The portfolio comprises 705 megawatts (MW) of operational capacity, consisting of 13 wind farms generating 402 MW and six photovoltaic solar parks delivering 303 MW. All included assets commenced commercial operations between 2025 and the first quarter of 2026.
The transaction is expected to close towards the end of 2026, subject to customary regulatory approvals.
Beyond the active generation assets, the agreement includes a 565 MW hybridisation pipeline, allowing for future technological expansions across wind, solar, and battery energy storage systems.
For Repsol, the deal represents its eighth renewable asset rotation, bringing its total rotated capacity across Spain and the United States to 3,850 MW. The strategy is designed to optimise the financial structure of its low-carbon business and accelerate development alongside external partners. Repsol currently maintains 6,000 MW of global renewable capacity in operation.
The transaction was supported by a €550 million syndicated financing package secured for the portfolio in December 2025. The funding was provided by a banking consortium including Banco Sabadell, Abanca Corporación Bancaria, CaixaBank, BNP Paribas,
The acquisition expands Masdar’s presence in the Iberian Peninsula, bringing its total operational capacity in the region to 4.1 GW, alongside approximately 1 GW of projects currently under development. The move aligns with Masdar’s broader corporate mandate to scale its global renewable energy deployment to 100 GW by 2030.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented,“Spain is one of Europe’s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth. This transaction strengthens Masdar’s portfolio, while deepening our support for Spain’s economic ambitions.”
João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol, added, “This agreement marks another step forward in our strategy to maximise profitability, enabling us to bring in a leading global partner in the renewable energy sector, while further strengthening the value of our high-quality asset portfolio.”
