Repsol incorporates investment firm Pontegadea as a partner in Delta wind farm

Repsol has reached an agreement with Pontegadea to partner in its first operational wind farm in Spain, in what is the first renewable energy deal of the investment firm chaired by Amancio Ortega. Pontegadea is investing €245 million to take a 49% stake in Delta, a wind farm with an installed capacity of 335 MW located in the province of Zaragoza. 

This operation demonstrates the soundness of Repsol’s renewable growth model based on the development of projects from the initial stages through start-up, as has been the case with Delta, a wind farm that has been 100% operational since March. With the incorporation of Pontegadea, Repsol completes its business model cycle in renewables and ensures its objective of obtaining double-digit returns on its investments in this sector. 

According to Josu Jon Imaz, Repsol Chief Executive Officer: ”having Pontegadea as a partner in Delta confirms the quality of our assets and will allow us to accelerate our growth in renewables within the framework of an efficient and sustainable energy transition and with the goal of being a zero net emissions company by 2050.” 

Roberto Cibeira, Pontegadea Chief Executive Officer: ”this transaction, with a solid and reliable partner such as Repsol, is part of Pontegadea’s overall investment strategy and strengthens the environmental commitment that accompanies all the activities in our portfolio, whether in the energy sector, real estate asset management or textile distribution”.