MADRID, May 28 (Reuters) – Spanish energy company Repsol is trying to sell a stake in an 800-megawatt (MW) portfolio of renewable assets in the United States, the Expansión newspaper reported on Tuesday, citing unnamed sources in the renewable energy market.
The assets, already in operation or nearing completion, are valued at around 600 million euros ($652.6 million), according to the newspaper.
Repsol did not immediately respond to a request for comment.
Like other energy companies, Repsol raises funds to invest in new projects by selling stakes in more advanced projects. She calls this process “asset rotation.”
Its CEO, Josu John Imaz, said last month that the company hopes to complete its first asset rotation deal in the United States.
State-controlled oil company Saudi Aramco is interested in buying a stake in Repsol’s renewable energy unit, two people familiar with the matter told Reuters last week.
(1 US dollar = 0.9194 euros)
(Reporting by Inti Landauro; Editing by Ian Harvey; Editing in Spanish by Benjamin Mejias Valencia)
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