Repsol, a Spanish multinational energy and petrochemical company based in Madrid, has acquired Asterion Energies, which manages a portfolio of renewable assets of 7,700 megawatts in Spain, Italy and France.
The transaction was valued at €560 million ($593 million), including contingent payments of up to €20 million ($21 million), and strengthens Repsol’s presence in key European markets and consolidates its international expansion in OECD markets.
The company said this is a key milestone in Repsol’s 2021 to 2025 strategic plan, which aims to reach 6,000 megawatts of installed renewable generation capacity by 2025, and 20,000 megawatts by 2030. The company already has more than 1,600 megawatts of renewable capacity installed in Spain, the United States, Chile and Portugal.
“We are realizing our ambition to be leaders in the energy transition by taking firm steps such as this asset acquisition to meet our goals of growth, diversification and focus on mul
