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Repsol sells part of its renewable energies

2022-06-10T17:31:12.848Z


Crédit Agricole Assurances and the Swiss fund EIP buy 25% of the subsidiary of the Spanish oil company.


Separating renewable energies from fossil fuels.

After diversifying into wind and solar power, the small Spanish major Repsol decided to enhance its low-carbon activities by selling part of the capital of this activity.

It announced on Friday the sale of 25% of its renewable subsidiary to Crédit Agricole Assurance and the Swiss fund EIP.

The €900 million transaction values ​​Repsol Renovables at more than €4.4 billion.

According to Reuters, Repsol is in negotiations with the EIG Global fund for the sale of another quarter of the capital of its subsidiary.

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Engie wants to overcome reluctance to renewable energies

The Spaniard does not want to let go of renewables, quite the contrary.

"Electricity from renewable sources has been one of the main pillars of our decarbonization model since we were the first, in 2019, to aim for carbon neutrality by 2050"

, explains the group in a press release.

The group will retain a majority of the shares, and will continue to consolidate this activity in its accounts...

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Source: lefigaro

All business articles on 2022-06-10

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