Spanish energy and petrochemical company Repsol has agreed to sell a 49% stake in its Delta onshore wind farm to Pontegadea Group in exchange for €245m (US$280m) investment.
Delta is the company’s first operational wind farm in Spain, located in the province of Zaragoza with a total installed capacity of 335MW.
The facility comprises eight wind parks featuring a total of 89 wind turbines and is estimated to produce 992GWh of renewable power per annum, equivalent to the average annual consumption of 300,000 homes and will avoid one million tons of CO2 emissions a year.
The Spanish firm acquired the project in June 2019, started the construction in December of the same year, and brought the wind project into full operation in March this year.
Last month, the Spanish energy company further increased its target for low-carbon project investments between 2021 and 2025, by €1bn to a total of €6.5bn from €5.5bn established in its strategic plan.
Repsol is aiming to achieve an installed capacity of 6GW by 2025, compared with 5.2GW in the company’s roadmap presented in November last year.
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