Repsol could sell renewables stake

Repsol could sell renewables stak

REPSOL: Chief executive Josu Jon Imaz not confirming renewables rumours Photo credit: Flickr/Repsol

Reuters revealed that oil company Repsol is negotiating the sale of a holding in its renewables division.

Repsol Renewables is currently worth €5.9 billion including debt, according to a UBS report in April 2024.

The company headed by Josu Jon Imaz has received an unsolicited approach from an investor and appointed Santander to advise on the sale, people close to the talks told Reuters.  The move would help the Spanish multinational to fund its strategic plan through to 2027, four separate sources confirmed.

What is known so far is that Repsol would retain more than 50 per cent of the renewables unit once the unnamed investor injected new capital, the insiders continued.

Talks were at a preliminary stage, they said, emphasising that there was no certainty that the deal would go through.

Reuters could not determine the investor’s identity and neither Repsol nor Santander wished to comment on the sale.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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