Repsol Enters JV, Gains Access to Renewables Portfolio in Chile
July 23 2020 - 5:50AM
Dow Jones News
By Giulia Petroni
Repsol SA said Thursday that it will create a 50-50 joint
venture with Grupo Ibereolica Renovables and gain access to a
portfolio of renewable projects in Chile.
The Spanish energy company said it will implement a capital
increase of 168 million euros ($194.4 million) through 2023 for the
purpose of funding the venture and allow the development of five
renewables projects in Chile in the next five years.
Through the agreement, Repsol will gain access to a portfolio of
renewables projects in the country that are either in operation,
construction or development. The projects will represent more than
1,600 megawatts in 2025, with the possibility to exceed 2,600 MW in
2030.
From 2025, Repsol will have the option to take control of the
venture, it said. The agreement is subject to approvals.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 23, 2020 05:35 ET (09:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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