Repsol Sells 49% Stake in Renewable Portfolio to Schroders Greencoat
Deal News | Apr 07, 2025 | Iberian Lawyer
Repsol has entered into an agreement with Schroders Greencoat, the renewable infrastructure specialist under Schroders Capital, selling a 49% stake in a portfolio of wind and solar assets located in Spain for 580 million euros. The portfolio includes eight wind farms with a combined capacity of 300 MW, located in Huesca, Zaragoza, and Teruel, and two solar photovoltaic plants totaling 100 MW in Palencia. The assets are expected to be fully operational by mid-2025. The agreement is contingent upon obtaining required administrative authorizations from Schroders Greencoat, which marks its initial investment through the Schroders Greencoat Europe SCSp fund launched in late 2024. The deal also involved a long-term syndicated financing arrangement of 348 million euros, organized with BBVA, Crédit Agricole CIB, Banco Sabadell, and Instituto de Crédito Oficial (ICO). The Schroders Greencoat fund focuses on building a portfolio centered on the energy transition in Europe, emphasizing renewable energy and related sectors.
Sectors
- Renewable Energy
- Financial Services
- Infrastructure Investment
Geography
- Spain – The renewable energy assets involved in the transaction are located in various regions of Spain.
- Europe – Schroders Greencoat's European fund is focused on energy transition assets across Europe.
Industry
- Renewable Energy – The article involves the sale of a renewable energy portfolio, including wind and solar assets.
- Financial Services – The transaction includes significant financial investments and advisory roles from financial institutions.
- Infrastructure Investment – Schroders Greencoat is making an infrastructure investment in renewable assets, aligning with its fund goals.
Financials
- 580 million euros – The total value of the transaction for a 49% stake in the renewable portfolio.
- 348 million euros – The long-term syndicated financing arranged for the transaction.
- 220 million euros – The amount raised in the first financing round for Schroders Greencoat Europe SCSp fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Repsol | Seller | Company | Repsol is an integrated global energy company selling a stake in its Spanish renewable energy portfolio. |
| Schroders Greencoat | Buyer | Company | Schroders Greencoat is a specialist renewable infrastructure manager acquiring a 49% stake in Repsol's portfolio. |
| BBVA | Financial Advisor | Company | BBVA was involved in the long-term syndicated financing for the transaction. |
| Crédit Agricole CIB | Financial Advisor | Company | Provided part of the syndicated financing for Repsol's transaction. |
| Banco Sabadell | Financial Advisor | Company | Participated in the financing agreement related to the transaction. |
| Instituto de Crédito Oficial (ICO) | Financial Advisor | Government | A Spanish state-owned bank part of the financing for this transaction. |