Repsol acquires Asterion Energies
Published by Abi Larkin,
Editorial Assistant
Energy Global,
Repsol has signed the acquisition of Asterion Energies from European infrastructure fund Asterion Industrial for €560 million plus up to €20 million in contingent payments. The transaction is an important milestone in Repsol’s ambition to become a global player in renewable energy and strengthens the company’s position in key markets in Europe.
Asterion Energies manages a portfolio of renewable projects, mostly under development, totalling 7700 MW in Spain (84%), Italy (12%), and France (4%), all of which are stable markets with high development potential.
Asterion Energies’ asset portfolio includes 4900 MW of photovoltaic solar and 2800 MW of wind generation, of which 2500 MW are at an advanced stage of development or under construction. In addition, Asterion Energies has an expert team with experience in the development of renewable and power storage assets that will be incorporated into Repsol’s ambitious growth project in this business.
For Josu Jon Imaz, CEO of Repsol, “we are realising our ambition to be leaders in the energy transition, taking firm steps, such as this asset acquisition, to meet our goals of growth, diversification, and focus on multi-energy. The projects and human talent that we are incorporating with this transaction perfectly complement our strategy.”
Jesus Olmos, Chief Executive Officer of Asterion Industrial, said: “We are proud to have created this European platform from scratch and to have achieved exponential growth over the last three years. We are convinced that Repsol is the ideal partner to continue this growth story and so contribute to the energy transition.”
The operation is subject to standard approvals for this type of transaction.
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Read the article online at: https://www.energyglobal.com/solar/16122022/repsol-acquires-asterion-energies/
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