Saudi energy giant Aramco is considering buying a minority stake in Repsol's renewable energies business, according to Oddo BHF, citing Spanish business newspaper Expansion.

The research firm points out that Repsol has already clearly stated its intention to sell a minority stake in its renewable unit, but will retain a majority stake of over 50%.

Repsol has already sold a 25% stake to a consortium of Crédit Agricole Assurances and EIP in 2022, valuing the business at €4.38 billion," says Oddo BHF, for whom this valuation would now exceed €5.5 billion.

"The group aims to increase its capacity to 9-10 GW by 2027 and 20 GW by 2030. It needs to invest nine billion euros between 2024 and 2027, and this partial divestment is intended to help it finance the growth of this activity', it explains.

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