Repsol Sells 25% of Renewables Business to Credit Agricole Assurances, EIP for EUR905 Million
June 09 2022 - 12:20PM
Dow Jones News
By Giulia Petroni
Repsol SA on Thursday said that it has agreed to sell 25% of its
renewable-energy arm to France's Credit Agricole Assurances and
Switzerland-based Energy Infrastructure Partners for 905 million
euros ($970 million).
The Spanish oil-and-gas major said the deal, which was approved
at an extraordinary meeting, values the business at EUR4.38
billion.
Repsol Renovables currently has more than 1.6 gigawatts of
installed renewable capacity and is present in Spain, Portugal, the
U.S. and Chile. It targets an installed capacity of 6 GW in 2025
and 20 GW in 2030.
The deal is expected to close before year end, subject to the
approval of regulatory authorities, according to the company.
Repsol's earnings won't be affected by the transaction.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 09, 2022 12:05 ET (16:05 GMT)
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