Repsol’s Sixth Asset Rotation Sparks Strategic Surge
The transaction marks Repsol’s sixth asset rotation since November 2021 — a tactic akin to shedding skin to grow stronger. Through this strategy, the Madrid-based multi-energy giant monetizes developed assets while bringing in strategic partners like Stonepeak to infuse capital and amplify value.
“We are very proud to start a partnership with Stonepeak in our first renewable asset rotation in the U.S. market,” said João Costeira, executive managing director of low-carbon generation at Repsol. “Once again, our portfolio has confirmed its attractiveness to leading investors, validating our strategy on renewables.”
This rotation not only fuels capital recycling but helps Repsol maintain operational control while scaling up its global renewable ambitions — currently operating nearly 4,000 megawatts with a 60,000-megawatt pipeline in the wings.
Stonepeak’s Vision: Powering the Grid When It’s Needed Most
Stonepeak, a New York-based infrastructure titan with $73 billion in assets under management, sees the deal as a cornerstone in its clean energy crusade.
“This is another important step in delivering much-needed cost-effective and sustainable electricity to our domestic power grid at a time when communities need it most,” said Anthony Borreca, senior managing director at Stonepeak.
With power demand spiking amid extreme weather and digital growth, the infusion of large-scale solar projects like Frye and Jicarilla into the U.S. grid is not just prudent — it’s essential.
