Galp buys 17 wind farms in Spain for estimated €320 million
“With this acquisition, Galp’s installed renewable capacity reaches 2 GW, with wind power now accounting for around a quarter of its total renewable production”, the company said.
Galp announced on Thursday that it would acquire 17 wind farms in Spain by the end of the second quarter of this year, with an estimated value of €320 million and an energy production capacity of 351 megawatts.
In a statement, the energy company did not disclose the final details of the deal with the Helia funds, a joint platform of Plenium Partners and Bankinter Investment, and instead confirmed that the assets to be acquired generate approximately 750 GWh (Gigawatt-hour) per year.
“With this acquisition, Galp’s installed renewable capacity reaches 2 GW, with wind power now accounting for around a quarter of its total renewable production”, the statement said.
Galp’s executive deputy chair for the renewable energy sector, Georgios Papadimitriou of Greece, said the acquisition reflected the company’s long-term vision for disciplined growth, focusing on high-quality assets to build a more resilient, diversified portfolio.
“The complementarity between solar and wind power allows us to reduce volatility, improve the production profile and strengthen sustainable value creation”, he concluded.