Asterion Industrial sells its platform Asterion Energies to Repsol
- Asterion created the platform, which manages a portfolio of 7,700 MW of renewable assets in Spain, Italy, and France, in 2019
- Repsol will continue Asterion Energies’ exponential growth path
- The value of the transaction, which is subject to customary approvals, is €560 million plus a maximum of 20 million for contingent payments
Madrid, 16th December 2022 – Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, has signed an agreement to sell Asterion Energies to Repsol for a total of €560 million plus a maximum of €20 million for contingent payments.
Asterion Energies, a development platform created by Asterion in 2019, manages a portfolio of projects, which are primarily under development, of a total of 7,700 megawatts (MW) of renewable energy in Spain (84%), Italy (12%) and France (4%) – stable markets with high development potential. In particular, Asterion Energies’ asset portfolio includes 4,900 MW of solar PV and 2,800 MW of wind generation, of which 2,500 MW are at an advanced stage of development or under construction. In addition, Asterion Energies has an expert team for the development of renewable and energy storage projects that will join Repsol’s ambitious growth plans in this field.
Jesús Olmos, CEO of Asterion Industrial Partners, commented: “”We are proud to have created this platform from scratch and to have achieved exponential growth in the last three years. We are convinced that Repsol is the right partner to continue this growth story and that they will continue contributing to the energy transition with this acquisition.”
Josu Jon Imaz, CEO of Repsol, added: “We are delivering on our ambition to be a leader in the energy transition with concrete moves, such as this acquisition, to meet our growth, diversification and multi-energy objectives. The projects and human talent that we are bringing on board with this transaction perfectly complement our strategy.”
The transaction is subject to customary approvals.
ABOUT ASTERION INDUSTRIAL PARTNERS
Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance, and a strong culture both for itself and in the companies in which it invests.