Repsol, a company that offers energy solutions for all its customers’ needs, and Abu Dhabi Future Energy Company – Masdar, a global leader in renewable energy, have signed an agreement for Masdar to acquire a 49.99% stake in a renewable energy portfolio in Spain. The transaction values the portfolio at €849 million.
The portfolio comprises 705 megawatts (MW) of operational capacity, including 13 wind farms (402 MW) and six photovoltaic solar farms (303 MW), all of which are expected to come online in 2025 and the first quarter of 2026. In addition, the portfolio includes more than 565 MW of potential growth through hybridization, encompassing wind, solar, and battery storage. The agreement was signed in Abu Dhabi by Masdar CEO Mohamed Jameel Al Ramahi and Repsol’s Managing Director of Low Carbon Generation, João Costeira.
The transaction is expected to close by the end of 2026, subject to customary regulatory approvals.
This agreement is part of Repsol’s renewable energy strategy, aimed at optimizing the business’s financial structure, accelerating growth with strategic partners, and rotating part of its portfolio. This is Repsol’s eighth rotation of renewable assets, totaling 3,850 MW in both Spain and the United States. Repsol currently has 6,000 MW of renewable capacity in operation.
The acquisition continues Masdar’s strategy of partnering with other industry leaders to drive the deployment of renewable energy globally, with the goal of reaching 100 GW of capacity by 2030. Once the transaction is completed, Masdar will have an operational capacity of 4.1 GW in the Iberian Peninsula and approximately 1 GW under development.
Legal Advisors
Advisors of Abu Dhabi Future Energy Company – Masdar
The Clifford Chance team was led by Corporate/M&A partners Pablo Murcia and Luis Alonso, with support from senior associate Juan Valcárcel and other members of the Corporate/M&A team: Beatriz Pérez, Conrado López, Juan Antonio Peces, and Jaime Sánchez. Other Clifford Chance lawyers involved in the transaction included José Guardo, Pablo Cancelo, José Luis Zamarro, Julia Hernández, Andrés Berral, Miguel de Santos, Roberto Grau, and Ignacio Baz.
