Repsol: acquires renewable energy company

(CercleFinance.com) - Spanish oil group Repsol announced on Friday that it will accelerate its development in clean energy with the purchase of Asterion Energies, a platform for renewable energy projects.


In a statement, Repsol said that it has completed the acquisition of the Madrid-based company from European infrastructure fund Asterion Industrial for 560 million dollars, to which could be added 20 million euros in additional payments.

The Spanish group refers to this as an "important step" in its aim to become a leader in the renewable energy market and to strengthen its position in the main European markets.

Repsol aims to have 6,000 MW of installed renewable energy capacity by 2025 and 20,000 MW by 2030.

In detail, the company has 4,900 MW of photovoltaic capacity and 2,800 MW of wind power capacity, of which 2,500 MW are at an advanced stage or under construction.


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