Repsol acquires Asterion Energies, adds 7.7GW of renewable assets

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The acquisition will increase Repsol’s renewable presence in key European markets such as Spain, Italy and France. Image: Repsol.

Spanish oil major Repsol has acquired renewables energy investment platform Asterion Energies from European infrastructure fund Asterion Industrial, for €560 million (US$594 million) plus up to €20 million in contingent payments.

The transaction will strengthen Repsol’s position in key European markets – mainly in Spain as well as Italy and France – and add 7.7GW of solar and wind power to its portfolio, of which 4.9GW would come from solar PV.

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Most of Asterion’s renewables portfolio is under development, with 2.5GW of capacity in an advanced stage of development or under construction.

With this acquisition, the Spanish oil major will accelerate its growth in renewables as it expects to reach 6GW of installed capacity by 2025 before reaching 20GW of renewables by 2030, a target it increased in October 2021.

Prior to the transaction the company had a portfolio of 1.6GW of renewable installed capacity, with the bulk of it (1.47GW) located in Spain and other projects in the US, Chile and Portugal. In addition, it has more than 2GW of renewable projects under construction in Spain, the US and Chile.

The company increased its interest in renewables earlier this year when it sold a 25% stake in its renewables arm to a consortium formed by French insurance Crédit Agricole Assurances and Energy Infrastructure Partners (EIP) with the aim to fuel its renewables growth capacity.

Josu Jon Imaz, CEO of Repsol, said: “We are realising our ambition to be leaders in the energy transition by taking firm steps such as this asset acquisition to meet our goals of growth, diversification, and focus on multi-energy. The projects and human talent that we are incorporating with this transaction perfectly complement our strategy.”

Furthermore, Repsol made its first foray into the US market last year with the acquisition of a 40% stake in solar and battery storage developer Hecate and a further investment in a 600MW solar PV project in the state of Texas.

2 December 2025
Málaga, Spain
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