Photovoltaics – Repsol and Amancio Ortega join forces in the Kappa photovoltaic solar park

Repsol and Pontegadea are once again associated in a renewable project. Pontegadea, one of the main private investment groups in the world, acquires, for 27 million euros, a 49% stake in the Kappa photovoltaic complex, located in Manzanares (Ciudad Real). This investment, in a facility fully operational since 2021 and with a total installed capacity of 126.7 MW, is the second operation in renewable energies of this company of Amancio Ortega after taking, last November, a similar stake in the multi-energy company’s Delta wind farm. The deal assumes valuing Kappa at 109 million euros, including project debt. The installation has three floors: Perseo Foton I, Perseo Foton II and Perseo Foton III. It consists of 285,331 solar modules and, according to Repsol, is capable of producing electricity equivalent to the demand of 71,000 homes (about 177,500 people), avoiding the emission of nearly 107,600 tons of CO2 in the environment. atmosphere each year, which is equivalent to the absorption of carbon dioxide by 13.5 million trees.

On November 11, Pontegadea invested 245 million euros to take a 49% stake in Delta, a wind farm located in the province of Zaragoza. For Repsol, this is the third transaction in which it gives access to a minority partner, given that in March 2022 it also integrated The Renewables Infrastructure Group (TRIG) with 49% of the Valdesolar photovoltaic power plant ( Valdecaballeros, Badajoz).

Josu Jon Imaz, CEO of Repsol“We are proud to strengthen our alliance with Pontegadea with a new entry of its capital into a second renewable asset of Repsol. Their confidence in our project will allow us to continue to grow steadily in this company created just over three years ago”

Roberto Cibeira, CEO of Pontegadea“This second operation with Repsol responds to Pontegadea’s overall investment strategy, consolidating the environmental commitment that accompanies all the activities of our portfolio, and reinforces our firm commitment to sustainable development, hand in hand with a partner of reference such as Repsol”

Repsol’s board of directors approved last June the sale of a 25% stake in Repsol Renovables to the consortium formed by the French insurer Crédit Agricole Assurances and funds managed by Energy Infrastructure Partners (EIP), based in Switzerland. . According to Repsol, the incorporation of Crédit Agricole Assurances and EIP as partners implies “an investment commitment that reinforces the growth of Repsol Renovables in line with the ambitious objectives of its Strategic Plan to reach 6 GW of renewable production in 2025 and 20 GW in 2030”.

The oil company currently declares “a portfolio of more than 1.6 GW of installed renewable capacity” and is present in Spain, the United States and Chile. In addition, it is also involved in the WindFloat offshore wind project in Portugal.

Amancio Ortega
The Pontegadea Group is made up of the group of companies owned by Amancio Ortega Gaona. Pontegadea controls its majority position in Inditex (with 59.29% of the capital) and is one of the main private real estate asset managers in the world, with a portfolio of leading assets located in Europe, America and Asia. In addition, Pontegadea holds other investments of a financial nature and stakes in infrastructure companies

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