Stonepeak to Acquire Stake in Repsol's Solar Project for 252.5 Million Dollars

Renewable Energy Stonepeak to Acquire Stake in Repsol's Solar Project for 252.5 Million Dollars

2025-12-16 Source: Press release Repsol 2 min Reading Time

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REPSOL YPF

Glatt Ingenieurtechnik GmbH

EDL Anlagenbau Gesellschaft mbH

Pörner Ingenieurgesellschaft mbH

Under a new deal, Stonepeak has plans to acquire a 43.8 % stake in Repsol's Outpost solar project in Webb County, Texas, USA for 252.5 million dollars. With this move, Repsol has plans to advance its renewable energy strategy in the United States.

The transaction implies a valuation of the asset of approximately 775 million dollars.(Source: Pixabay) — The transaction implies a valuation of the asset of approximately 775 million dollars.
(Source: Pixabay)

Madrid/Spain – Repsol advances its renewable energy strategy in the United States with a new deal with Stonepeak. The investment firm specializing in infrastructure and real assets has agreed to acquire a 43.8 % stake in Repsol's Outpost solar project, located in Webb County, Texas, for 252.5 million dollars. The transaction implies a valuation of the asset of approximately 775 million dollars, including tax equity proceeds raised through the monetization of PTCs received by the project.

Outpost, with an installed capacity of 629 MW, began commercial operation this August and benefits from a long-term power purchase agreement (PPA), reinforcing its attractiveness to investors.

This marks Repsol's second asset rotation in the United States, and the multi-energy company continues to optimize the financial structure of its renewable business by bringing in strategic partners to maximize value creation.

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This transaction also represents the second collaboration between Repsol and Stonepeak in the U.S. renewables market. In July this year, the two companies closed a similar transaction that included Stonepeak's acquisition of a stake in the Frye solar farm (632 MW) in Texas and the Jicarilla solar and storage complex (145 MW) in New Mexico.

The transaction is expected to close in the coming months, subject to standard regulatory approvals.

João Costeira, Executive Managing Director of Low Carbon Generation at Repsol, said: "Rejoining forces with Stonepeak, a major investor that continues to place its trust in the quality of our renewable assets in the United States, allows us to advance our growth strategy in this country, where we already have more than 2,800 MW in operation and under construction in solar and storage projects”.

Anthony Borreca, Senior Managing Director at Stonepeak, said: "We are thrilled to extend our U.S. partnership with Repsol on this transformative solar project, which underscores our shared ongoing commitment to advancing sustainable energy infrastructure and delivering long-term value in Texas.”

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Date: 08.12.2025

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