Spanish Power Firm Repsol Bolsters Renewables Enterprise By way of Asterion Energies Acquisition

• Repsol SA (OTC: REPYY) has acquired Asterion Energies from European infrastructure fund Asterion Industrial for €560 million plus as much as €20 million in contingent funds.

• Repsol expects the deal to strengthen its presence in key European markets and consolidates its worldwide growth in OECD markets.

• Asterion Energies manages a portfolio of renewable initiatives principally below growth totaling 7,700 megawatts (MW) in Spain (84%), Italy (12%), and France (4%).

• Asterion’s asset portfolio consists of 4,900 MW of PV photo voltaic and a couple of,800 MW of wind technology, of which 2,500 MW are at a complicated stage of growth or below building.

• “We’re realizing our ambition to be leaders within the power transition, taking agency steps, equivalent to this asset acquisition, to fulfill our targets of development, diversification, and deal with multi-energy,” mentioned Repsol CEO Josu Jon Imaz.

• In 2019, Repsol dedicated to attaining zero web emissions by 2050.

• The corporate’s 2021-2025 Strategic Plan envisages reaching 6,000 MW of put in renewable technology capability by 2025 and 20,000 MW by 2030.

• Repsol entered the U.S. renewables market by buying 40% of Hecate Power.

• Worth Motion: REPYY shares closed decrease by 0.46% at $15.14 on Thursday.

• Photograph By way of Wikimedia Commons

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