• Schroders Greencoat acquires a 49% stake in Repsol’s 400 MW wind and solar portfolio.
• This marks the inaugural investment by Schroders Greencoat’s €220M energy transition fund.
• Repsol continues its strategic shift, emphasizing partnerships to maximize project value.

Schroders Greencoat, the specialist renewables manager within Schroders Capital, acquired a 49% share in Repsol’s 400 MW renewable portfolio, valued at €580 million. The portfolio consists of eight wind farms (300 MW) in Huesca, Zaragoza, and Teruel, and two solar plants (100 MW) in Palencia, Spain, all set to be operational by mid-2025.

This investment, Schroders Greencoat’s first from its Europe SCSp Fund, reflects a strategy focused on diversified renewable infrastructure and energy transition assets across Europe.

João Costeira, Repsol’s Executive Managing Director of Low Carbon Generation, emphasized:

“The alliance with a partner like Schroders Greencoat, one of the world’s leading renewable infrastructure managers, at a time when there is a wide offer of renewable assets for sale, highlights the quality and attractiveness of our portfolio in the market.“

Repsol retains asset control, further supported by a recent €348 million syndicated loan arranged with BBVA, Crédit Agricole CIB, Banco Sabadell, and Spain’s ICO.

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Adam Basnett, Portfolio Manager for Schroders Greencoat, noted:

“We are delighted to have made the Fund’s first acquisition following the first close. Our partnership with Repsol signifies a first step in our investment strategy and we look forward to working together to deliver long-term value for our clients with high quality of assets all supported by long term offtake agreements.”

Victor Monje, Head of Investments for Schroders Greencoat in Iberia, added:

“This transaction is a sign of our commitment to driving the energy transition in Europe with industry leaders. These assets add to our existing portfolio in Spain, a leading region for renewable energy projects where we began investing in 2022 and to expand our investments.”

The partnership aligns with Repsol’s ongoing strategic model, prioritizing financial optimization through partnerships to ensure double-digit returns. Currently, Repsol holds 3,700 MW operationally, with a global pipeline of 60,000 MW, including more than 2,600 MW operational and 600 MW under construction in Spain.

Schroders Greencoat manages over 430 renewable infrastructure assets totaling 7.4 GW capacity, reinforcing its position as a prominent renewable investment manager in Europe and globally.

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