Repsol, a Spanish multi-energy group, is in the final stages of securing full control of its 50/50 renewable energy joint venture (JV) with fellow Spanish company Grupo Ibereolica Renovables in Chile, as reported by the Spanish business daily Expansion on Monday.
According to sources from Expansion, the transaction’s value could range between EUR 200 million (USD 215.6m) and EUR 300 million. The acquisition of the Chilean JV by Repsol was part of the initial plan when the 50/50 partnership with the Spanish renewable energy developer was established.
In 2020, Repsol infused EUR 168 million into the JV through a capital increase, while Ibereolica Renovables contributed the wind and solar assets.
Initially, the partners agreed to collaborate on around 1,600 MW of wind and solar projects in Chile until 2025, with the potential to expand by another 1,000 MW by 2030. Repsol also had the opportunity to purchase Ibereolica’s 50% stake by the middle of the decade.
By the end of 2023, Repsol had operational wind and solar capacities of 846 MW and 1,242 MW respectively in various markets including Spain, Italy, the US, and Chile. This figure includes Repsol’s interest in the Repsol Ibereolica JV in Chile.
source: Repsol
