Spanish energy company Repsol has signed a deal for Abu Dhabi Future Energy Company ( Masdar ) to acquire a 49.99% stake in a renewable energy portfolio in Spain. The transaction values the portfolio at €849 million ( US$968 million ).

The portfolio comprises 705 megawatts of capacity, including 13 wind farms ( 402MW ) and six photovoltaic solar parks ( 303MW ). It also includes more than 565MW of potential hybridization pipeline growth, comprising wind, solar and battery storage.

Repsol had secured €550 million in syndicated financing for the portfolio in December 2025 from Banco Sabadell, Abanca Corporación Bancaria, CaixaBank, BNP Paribas, UniCredit Bank, and Spain’s Instituto de Crédito Oficial.

“Spain is one of Europe’s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth,” says Masdar chief executive officer Mohamed Jameel Al Ramahi. “This transaction strengthens Masdar's portfolio while deepening our support for Spain’s economic ambitions. We look forward to investing in the growth of these assets and building on our strong partnership with Repsol.”

 The transaction is expected to close towards the end of 2026. The agreement forms part of Repsol’s renewable strategy, aimed at optimizing the financial structure of the business, accelerating growth with strategic partners, and rotating part of its portfolio.

Once the deal is completed, Masdar will have an operational capacity of 4.1GW across the Iberian Peninsula, with around 1GW under development.

This is the eighth renewable asset rotation carried out by Repsol, totalling 3,850MW, both in Spain and the United States. Repsol currently has 6GW of renewable capacity in operation.

The acquisition continues Masdar’s strategy of partnering with other industry leaders to scale renewable energy deployment worldwide, as it targets 100GW of global capacity by 2030.