Pontegadea, the investment group set up by Zara clothing tycoon Amancio Ortega, has joined Spanish oil and gas company Repsol in a renewables portfolio with an initial 618MW of capacity.
Pontegadea will pay €363m ($394m) for a 49% stake in the assets, according to a statement by Repsol.
The transaction covers 12 onshore wind farms totalling 398MW and two solar PV plants in three different regions of Spain, and values the assets at €740m.
