Repsol is an energy company that provides solutions for the energy needs of all customers，and Masdar，the Abu Dhabi Future Energy Company and a global renewable energy leader，have signed an agreement under which Masdar will acquire a 49.99% stake in a Spanish renewable energy portfolio。The transaction is valued at 849 million euros。

The portfolio has 705 megawatts（MW）of operational capacity，including 13 wind farms（402 megawatts）and 6 photovoltaic solar parks（303 megawatts），with these facilities coming into operation in 2025 and the first quarter of 2026。In addition，the portfolio also includes more than 565 megawatts of potential hybridization pipeline growth，covering wind energy，solar energy and battery energy storage。The agreement was signed in Abu Dhabi by Masdar Chief Executive Officer Mohamed Jameel Al Ramahi and Repsol Low Carbon Generation Executive Director João Costeira。

Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said：“Spain is one of Europe’s fastest-growing major economies，and renewable energy is playing a key role in driving this growth。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 further consolidating our strong partnership with Repsol。”

Repsol Low Carbon Generation Executive Director and General Manager João Costeira emphasized：“This agreement marks another step in our strategy to maximize profitability，enabling us to introduce a global leading renewable energy partner，while further strengthening the value of our high-quality asset portfolio。”

The transaction is expected to be completed by the end of 2026，subject to customary regulatory approvals。

The agreement is part of Repsol’s renewable energy strategy，aimed at optimizing the business financial structure，accelerating growth with strategic partners，and rotating part of its asset portfolio。This is Repsol’s eighth renewable energy asset rotation，totaling 3850 megawatts，with locations including Spain and the United States。Repsol currently has 6,000 megawatts of installed renewable energy capacity in operation。

This acquisition continues Masdar’s strategy of working with other industry leaders to promote global renewable energy deployment，with the goal of achieving 100 GW of installed capacity worldwide by 2030。After completion of the transaction，Masdar will have 4.1 gigawatts of operational capacity on the Iberian Peninsula，with approximately 1 gigawatt under development。

In this transaction，Repsol obtained 550 million euros in syndicated financing in December 2025 from Banco Sabadell，Abanca Corporación Bancaria，CaixaBank，BNP Paribas，UniCredit Bank and Spain’s official credit institution（Instituto de Crédito Oficial）。