Repsol Dives Into US Wind Market With ConnectGen Acquisition Worth $768M
Portfolio Pulse from Nabaparna Bhattacharya
Repsol S.A. (OTC:REPYY) has acquired renewable energy platform ConnectGen for $768 million, marking its entry into the U.S. onshore wind market. The acquisition is part of Repsol's strategy to strengthen its position in the renewable energy business. The company plans to allocate 35% of its investments to low-carbon projects by 2023. The deal will add an onshore wind power growth platform in the U.S. to Repsol's portfolio, supporting its target of 20,000 MW of installed capacity by 2030.
September 08, 2023 | 11:42 am
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Repsol's acquisition of ConnectGen for $768 million marks its entry into the U.S. onshore wind market. This move is expected to strengthen Repsol's position in the renewable energy business and support its target of 20,000 MW of installed capacity by 2030.
The acquisition of ConnectGen is a significant move for Repsol as it marks the company's entry into the U.S. onshore wind market. This is expected to strengthen Repsol's position in the renewable energy business and support its strategic target of 20,000 MW of installed capacity by 2030. Given the increasing focus on renewable energy and the potential growth in this sector, this acquisition could have a positive impact on Repsol's stock in the short term.
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