August 3, 2020

Repsol finalizes the purchase to Forestalia of a portfolio of 850 MW of wind power for 900 million




Repsol finalizes the acquisition of the largest wind portfolio in Spain, with the purchase of more 850 megawatts (MW) of power from Forestalia, market sources have confirmed to ABC. The operation would involve an outlay for the oil company of about 900 million euros.

Most of the wind farms included in this operation are located in Aragon and would be added to the “Delta” 335 MW park, acquired by Repsol also from Forestalia last summer.

The new operation, advanced by El Confidencial, would be part of the company's purpose of accelerating its commitment to low carbon projects and sustainability with the aim of being a zero net emission company in the 2050 horizon.

In fact, the group chaired by Antonio Brufau, which in the first half of next year will launch a new strategic plan 2021-2025 to define this path, becomes the first company in its sector to assume the goal of zero net emissions in 2050 It currently has 5,600 MW renewable and operational.

The application of this new scenario of oil and gas prices consistent with the climate objectives of the Paris Agreement will lead to a correction of the book value of some of the group's assets, with an estimated impact of about 4.8 billion euros after taxes, which will reduce The specific result of this year 2019, but will not affect the generation of cash or the remuneration to shareholders, which is among the most attractive of the Spanish Stock Exchange and its sector in the world, reports Ep.

Forestalia is a group of renewable energies (wind, photovoltaic, biomass and pellets). He was born in Zaragoza in 2011 by the hand of its founder and president Fernando Samper.

Forestalia's current portfolio of projects is more than 5 GW of renewable energy. In 2016 and 2017, it was awarded almost 2 GW in the auctions of the Ministry of Industry.

. (tagsToTranslate) repsol (t) purchase (t) wind (t) forestry

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