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07 — Renewables
As a developer, financier and operator of utility-scale renewable energy, we aim to be a meaningful contributor to the energy transition.
Overview
Our approach to renewables leverages economies of scale, ethical and sustainable procurement, and continuous improvement in quality and efficiency. We have built meaningful partnerships across the energy transition, including with Enel Group, Exus Management Partners and Banco Santander.
In 2022 we delivered 220 MW of renewables, including our Portuguese wind portfolio (acquired from EDP Renewables with an 18-year feed-in tariff) and stakes in further wind projects in Zaragoza, Spain, and in Portugal. In 2023 we sold the Portuguese portfolio to Finerge, recycling capital into our development pipeline.
In numbers
Our vision
We want to lead the transition to a low-carbon world and support economic development and living standards in Europe and the Middle East by providing competitive, long-term energy solutions.
We continue to evaluate scalable wind, solar and other clean energy opportunities, drawing on our experience owning and operating assets to overcome technical and commercial challenges.
Recycling capital from operating wind into our development pipeline.
Strategy & value creation
Disciplined ownership across the life-cycle of each asset.
The Portugal portfolio showed the model: buy contracted operating wind, run it well, then recycle capital into the next development cycle.
Enel Group, Exus Management Partners and Banco Santander illustrate the network we use to originate and de-risk projects.
Economies of scale, sustainable procurement and continuous efficiency gains keep projects competitive.
Milestones
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220 MW of renewables, including the Portuguese wind portfolio and Spanish stakes.
Sold the Portuguese portfolio to Finerge; capital recycled into the development pipeline.
Footprint
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1Portugal2Zaragoza, SpainSustainability
More than 200 MW of wind capacity developed, owned and exited — with €600m invested — is our contribution so far to Europe’s clean-power build-out. We continue to screen wind, solar and other clean-energy opportunities.