Pontegadea is once again working with Repsol on a renewable asset, the Kappa solar system

  • Pontegadea has invested 27 million euros to acquire 49% of Kappa, a 126.7 MW solar plant in Manzanares (Ciudad Real). This transaction values ​​the asset at 109 million including project debt.
  • This is Repsol’s second transaction with Amancio Ortega’s investment company, which acquired 49% of the Delta Wind Farm in November 2021.
  • The transaction is Repsol’s third sale of renewable assets after the Delta wind farm and the Valdesolar solar plant.

    Josu Jon Imaz, CEO of Repsol:

  • “We are proud to strengthen our partnership with Pontegadea through a further equity investment in a second Repsol renewable energy plant. Your trust in our project will allow us to continue to grow steadily in this business that was established just over three years ago.”

    Roberto Cibeira, CEO of Pontegadea:


Repsol and Pontegadea have joined forces on another renewable energy project. Pontegadea, one of the world’s leading private investment groups, has acquired a 49% stake in the Kappa photovoltaic complex in Manzanares (Ciudad Real) for €27 million. This investment in a facility fully operational since 2021 with a total installed capacity of 126.7 MW is the second renewable energy transaction by Amancio Ortega’s company, after acquiring a similar stake in the multi-energy company’s Delta Wind Farm last November would have.

The agreement values ​​Kappa at €109 million, including project debt. The facility consists of three facilities: Perseo Foton I, Perseo Foton II and Perseo Foton III. It has 285,331 solar panels and supplies 71,000 households – or 177,500 people – with electricity from renewable sources and avoids the emission of around 107,600 tons of CO2 into the atmosphere, equivalent to the carbon dioxide uptake of 13.5 million trees.

On November 11, Pontegadea invested €245 million to acquire a 49 percent stake in Delta, a wind farm in the province of Zaragoza.

For Repsol, this is the third transaction since March 2022 in which it has brought in a minority shareholder. Repsol has contributed The Renewables Infrastructure Group (TRIG) with a 49% stake in the Valdesolar photovoltaic plant (Valdecaballeros, Badajoz).

“We are proud to strengthen our alliance with Pontegadea by further investing in a second Repsol renewable asset. Your trust in our project will allow us to continue to grow steadily in this business established just over three years ago,” said Josu Jon Imaz, CEO of Repsol.

Roberto Cibeira, CEO of Pontegadea, said: “This second transaction with Repsol is in line with Pontegadea’s global investment strategy, consolidating the environmental commitment that accompanies all activities in our portfolio and reinforcing our firm commitment to sustainability, hand in hand with a reference partner like wie Repsol.”

business growth

Last June, Repsol’s Board of Directors approved the sale of a 25% stake in Repsol Renovables to the consortium made up of French insurer Crédit Agricole Assurances and funds managed by Switzerland-based Energy Infrastructure Partners (EIP).

The addition of Crédit Agricole Assurances and EIP as partners brings with it an investment commitment that bolsters the growth of Repsol Renovables, in line with the ambitious goals of its strategic plan to reach 6 GW of renewable energy by 2025 and 20 GW by 2030.

The company currently has a portfolio of more than 1.6 GW of installed renewable capacity and is present in Spain, the United States and Chile, and also participates in the WindFloat offshore wind project in Portugal.

Over the past two years, Repsol has realized its goals of geographically diversifying its renewable energy business, complementing its capabilities, enhancing its portfolio and creating a solid platform with great growth potential, with the goal of becoming a global low-carbon operator.

About Pontegadea

The Pontegadea Group is formed by the group of companies of Amancio Ortega Gaona. Controlling a majority stake in Inditex with 59.29% of the capital, Pontegadea is one of the world’s leading private real estate asset managers with a portfolio of prime assets in Europe, America and Asia. Pontegadea also has other financial investments and interests in infrastructure companies.

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