Friday, December 3

Amancio Ortega buys 49% of a wind farm in Zaragoza from Repsol for 245 million

Repsol announced this Thursday an agreement with Pontegadea, the investment company of Amancio Ortega, whereby the founder and largest shareholder of Inditex will invest 245 million euros in the acquisition of 49% in the Delta wind complex, located in the Zaragoza province, operating since March and with an installed capacity of 335 megawatts (MW).

Amancio Ortega enters the energy sector and buys 5% of Enagás for 281.64 million

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It is “the first operation in the renewable sector” of the investment vehicle with the greatest Spanish fortune, highlights the energy company in a note sent to the National Securities Market Commission (CNMV).

The wind complex, which Repsol acquired in June 2019 from the Aragonese group Forestalia, is the first of its kind developed by the company chaired by Antonio Brufau. It consists of eight parks and a total of 89 wind turbines, it will produce 992 GWh of 100% renewable energy per year, the equivalent of the average annual consumption of 300,000 homes, and it will avoid the emission into the atmosphere of one million tons of CO2 per year.

The operation values ​​100% of the complex at 500 million. As the energy company explains in a note, for its CEO, Josu Jon Imaz, “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 efficient energy transition. sustainable, and with the goal of being a net zero emissions company by the year 2050 “.

For his part, Roberto Cibeira, CEO of Pontegadea, highlighted that “this operation together with a solid and reliable partner such as Repsol is part of Pontegadea’s global investment strategy and allows us to consolidate the environmental commitment that accompanies all activities in our portfolio, both in the energy sector and in the management of real estate assets or textile distribution “.

With this operation Ortega his commitment to energy at a time of tribulations for the real estate sector, which has traditionally been the great commitment of Pontegadea, the largest Spanish real estate company, focused on the sale and rental of large buildings whose value decreased in 2020 more 7% as a consequence of the pandemic.

Last July, the billionaire bought almost at a stroke 5% of Red Eléctrica de España (REE) and another 12% of its Portuguese counterpart REN, becoming its second shareholder, in two operations valued at more than 640 million. And in December 2019, its holding Pontegadea acquired 5% for 281.63 million of Enagás, the gas network manager, with which it equaled its stake to that held by the Sociedad Estatal de Participaciones Industriales (SEPI), although not has asked to join its board of directors.

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