Spanish energy company Repsol and Abu Dhabi-based renewable energy developer Masdar have signed an agreement under which Masdar will acquire a 49.99% stake in a renewable energy portfolio in Spain.

The transaction values the portfolio at €849 million ($982 million).

The portfolio comprises 705 megawatts (MW) of operational capacity, including 13 wind farms (402 MW) and six photovoltaic solar parks (303 MW), all of which entered operation in 2025 and the first quarter of 2026.

Additionally, the portfolio includes more than 565 MW of potential hybridization pipeline growth, comprising of wind, solar and battery storage.

The agreement was signed in Abu Dhabi by CEO of Masdar, Mohamed Jameel Al Ramahi and João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol.

Mohamed Al Ramahi, CEO of Masdar, said: “Spain is one of Europe’s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth. This transaction strengthens Masdar's portfolio, while deepening our support for Spain’s economic ambitions. We look forward to investing in the growth of these assets, and to building on our strong partnership with Repsol.”

“This agreement marks another step forward in our strategy to maximize profitability, enabling us to bring in a leading global partner in the renewable energy sector, while further strengthening the value of our high-quality asset portfolio,” highlighted João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol.

The transaction is expected to close toward the end of 2026, subject to customary regulatory approvals.

This agreement forms part of Repsol’s renewable strategy, aimed at optimizing the financial structure of the business, accelerating growth with strategic partners, and rotating part of its portfolio.

This is the eighth renewable asset rotation carried out by Repsol, totalling 3,850 MW, both in Spain and the US.

Repsol currently has 6 GW of renewable capacity in operation. -OGN/TradeArabia News Service