Repsol is advancing its U.S. renewable-energy strategy through a new deal with Stonepeak, which has plans to acquire a 43.8 percent stake in Repsol’s Outpost solar project for $252.5 million.
The transaction implies a valuation of the asset of approximately $775 million, including tax equity proceeds raised through the monetization of production tax credits received by the project.
Located in Webb County, Texas, Outpost has an installed capacity of 629 megawatts and began commercial operation in August. The project benefits from a long-term power purchase agreement.
“We are thrilled to extend our U.S. partnership with Repsol on this transformative solar project, which underscores our shared ongoing commitment to advancing sustainable energy infrastructure and delivering long-term value in Texas,” said Anthony Borreca, senior managing director at Stonepeak.:
Repsol confirmed this represents its second asset rotation in the United States. The multi-en
