Pontegadea Group, the investment vehicle of Spanish billionaire Amancio Ortega, is nearing a deal to acquire a 49% stake in a portfolio of wind farms and solar power plants owned by multi-energy group Repsol SA (BME:REP), Reuters reports.
Sources with knowledge of the matter have told the news agency that the potential transaction would value the assets within this 600-MW portfolio at about EUR 700 million (USD 748m). One of the sources has added that a deal could be signed as soon as next week.
Repsol’s plan to sell this stake has been the topic of media reports since the spring of this year.
Two years ago, the Spanish energy group also sold a 49% interest in the 335-MW Delta onshore wind park to Pontegadea, a transaction that marked Ortega’s inaugural foray into renewables.
(EUR 1.0 = USD 1.069)