Repsol has just announced the signing of an agreement to buy the US renewable energy development group ConnectGen for $768 million (around €715 million) from 547 Energy, the renewable energy development platform of Quantum Capital Group. According to the statement, with this transaction Repsol “strengthens its position as a global player in this energy sector, increases its international presence and contributes to its goal of reaching 20,000 MW installed by 2030.
Headquartered in Houston, Texas, ConnectGen is a renewable energy developer with a multi-technology approach and in-house development capabilities, particularly in onshore wind projects in the United States. ConnectGen’s development portfolio includes 20,000 MW of onshore wind, solar and energy storage, at different stages of development, in the “most attractive” regions of the country. This portfolio represents Repsol’s entry into the onshore wind business in the United States, one of the largest markets with the greatest growth potential in the world.