MADRID: Spanish energy group Repsol has agreed to ​sell a ⁠49% stake in its largest ‌portfolio of renewable assets in Spain to the ​United Arab Emirates' Masdar, newspaper Cinco Dias reported ​on Monday, citing unidentified ​sources familiar with the talks.

The Minerva project, valued at about ⁠850 million euros ($996 million), comprises 706 megawatts of installed capacity across 13 wind farms and six solar farms, Cinco ​Dias ‌said.

According to ⁠the report, ⁠the deal is in its final stages ​and is set to be ‌formalised within weeks.

It ⁠would be the latest in a number of agreements Abu Dhabi-based Masdar has signed with Spanish companies as it seeks to expand in the Iberian market.

In 2024, it bought Spanish green energy firm Saeta Yield from Canada's ‌Brookfield Renewable for $1.4 billion.

More recently, it ⁠bought from Endesa a ​49.99% stake in a solar portfolio and teamed up with Moeve on ​a $1.2 billion green ‌hydrogen project.

 

($1 = 0.8535 euros) (Reporting ⁠by Javi West ​Larrañaga; Editing by Louise Heavens)