Inditex founder Amancio Ortega's investment firm Pontegadea is pushing further into renewable energy, closing in on a deal with Repsol to buy a 49% stake in its wind farms and photovoltaic power plants in Spain, two sources familiar with the deal told Reuters. The Spanish fashion retail billionaire's potential acquisition would expand Pontegadea's investments in renewable energy. The Repsol renewable projects up for sale have a total capacity of about 600 megawatts and the transaction values them around 700 million euros ($747.18 million), sources said.
Investors pouring money into renewable energy in Spain may close the tap as soon as in 2024 if the issue of ebbing profitability tied to depressed wholesale electricity prices isn t dealt with,.
One of Spain s top business
lobby groups called for extending the use of the country s
nuclear plants on Friday, that the government led by acting
Prime Minister Pedro Sanchez plans to start closing. -November 03, 2023 at 10:35 am EDT
- MarketScreener
Endesa warns of slowdown in renewables development reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Spain s state fund SEPI said on Tuesday it is considering whether to buy a stake in Telefonica, a month after Saudi Arabia s STC built a 9.9% holding in the telecoms group..