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.
Russia's President Vladimir Putin has cleared the way for Cyprus-registered investment firm Bonum Capital to transact in shares of four Russian groups in which it holds minority stakes, including Gazprom, an order published on Thursday showed. The order said Putin had issued the clearance as a response to international sanctions. The U.S. introduced sanctions against Bonum Capital Cyprus last year as part of measures targeting individuals and entities it said were part of a transnational network that procures technology to support Moscow in its conflict with Ukraine.
"Azure Power will need $700 million to deliver the next three power projects including 700 MW solar, 120 MW wind and 150 MW hybrid project," said a company spokesperson. "To deliver the projects by next financial year, Azure will have to bring in part equity and raise debt. The company is relying on several sources to meet the capital need."
The strategic partnership is expected to support the growth of Varagon’s lending business, the launch of new vehicles and the continued expansion of the Firm.