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November 12, 2021

Pontegadea to acquire 49% stake in 335MW Repsol wind farm

The Delta wind project has been operational since last March.

By Umesh Ellichipuram

Spain-based private investment firm Pontegadea has agreed to acquire a 49% stake in a wind farm operated by Repsol for €245m ($280m).

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The Delta wind farm is located in Zaragoza, Spain, and has a total installed capacity of 335MW. The project has been operational since last March.

The deal makes Pontegadea a partner in the Delta project and is said to be the company’s first renewable energy deal.

Delta is Repsol ’s first wind project in Spain. The company acquired the project in June 2019 and began its construction that December.

The asset currently features eight farms and 89 wind turbines.

Delta is expected to produce 992GWh of clean energy and offset one million tonnes of carbon dioxide emissions a year.

Pontegadea CEO Roberto Cibeira said: “This transaction, with a solid and reliable partner such as Repsol , is part of Pontegadea’s overall investment strategy and strengthens the environmental commitment that accompanies all the activities in our portfolio, whether in the energy sector, real estate asset management or textile distribution.”

The deal also helps Repsol complete its business model cycle in the renewables space while supporting its aim of obtaining double-digit returns in the segment.

Repsol CEO Josu Jon Imaz said: “Having Pontegadea as a partner in Delta confirms the quality of our assets and will allow us to accelerate our growth in renewables, within the framework of an efficient and sustainable energy transition, and with the goal of being a net-zero emissions company by 2050.”

Last month, Repsol announced plans to increase its renewable energy generation capacity by 60%, with the aim of having 20GW of installed capacity by 2030.

The company aims to have installed 6GW of capacity by 2025, an increase from the previous target of 5.2GW that it announced last November.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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