Promoting renewable energy projects

Repsol acquires 47 percent stake in Orisol

Press Release 16/09/2010 00:00
  • This transaction will allow Repsol to increase its expertise in generating renewable energy and develop a more attractive portfolio of projects.
  • Repsol will take advantage of synergies with technology and domestic markets, highlighting its competitive advantage.
  • Orisol is a company with proven experience in the renewable energy sector, and is part of the Synergy/Aernnova group.
  • Repsol will steer the Orisol business plan towards energies with a growing strategic interest, such as offshore, tidal and geothermal wind energy.
  • This transaction complements and strengthens the development of the recently formed New Energy business unit.

Repsol has signed an agreement to purchase a 47% stake in Orisol, an international developer of renewable energy projects, with a team of experts of recognized standing in the sector. This transaction was carried out by the Repsol New Energy business unit and acquired through an 8 million euro increase in capital. 

Last April, Repsol created its New Energy business unit to identify opportunities, promote projects and develop initiatives in bioenergy, renewable energy for transport, and other areas, which can provide synergies with Repsol’s ongoing business, and in the areas where the company operates. 

Repsol’s new position as a shareholder, significantly increases Orisol’s potential and also broadens its prospects of geographical expansion.

Orisol

The company was founded in July 2006, a subsidiary of the Synergy Group, dedicated to the promotion of renewable energy projects.

As a result of the transaction, the Orisol shareholding is now made up of Repsol 47%, Synergy 47% and the remaining 6% made up of independent shareholders.

Orisol’s current portfolio of projects generates almost 2,000 MW, of which 1,900 MW corresponds to wind projects, mainly in Spain, Italy and the USA.