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Monday, April 15, 2024

Deloitte advises Repsol on renewables projects acquisition

Deloitte Legal has advised Repsol on its acquisition of three wind and two solar photovoltaic projects from promoter and developer ABO Wind

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Repsol has reached an agreement with the promoter and developer ABO Wind to add 250 MW of renewable assets in Spain through the purchase of three wind farms and two solar plants. With the acquisition of these projects, the multi-energy company’s renewable porfolio in Spain now totals 3,200 MW in operation, under construction and at an advanced stage of development.

The three wind farms, totaling 150 MW, and the two photovoltaic plants (100 MW), are located in the province of Palencia and will share interconnection infrastructure with part of PI, Repsol’s first renewable project in Castilla y León, located between Palencia and Valladolid, which recently began operating the first wind turbines of the La Serna wind farm in the town of Ciguñuela, Valladolid.

All the assets acquired by Repsol in this transaction are at an advanced stage of development, already have a positive Environmental Impact Statement (EIS) and are expected to come into operation between 2024 and 2025.

When completed, the renewable generation from these five facilities will supply electricity to nearly 172,000 homes and avoid the emission of 266,000 tons of CO2 per year. The agreement includes that ABO Wind, a German company with more than 25 years of experience in the sector and a wide international presence, will be in charge of developing these projects for Repsol.

The transaction involved the participation of a Deloitte Legal Commercial Law team with partner José María Elías de Tejada, principal associate Pilar París, senior associate Gonzalo Castro Sáenz del Castillo, and junior Isabel Pérez Dobarro, together with a Public Law and Regulated Sectors team comprising partner María Guinot Barona, principal associate Carlos Tallón Martínez, senior associate Fernando González, and junior Ignacio Bazarra, and a Tax team made up of partner Francisco Martín Barrios, senior associates Antonio Corbalán and Nuria Sánchez, and associate Francisco de Borja Rosel. The transaction was also advised by the Financial Advisory team.

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