Repsol, a multi-energy company, has announced a $340 million investment deal with Stonepeak, which acquired a 46.3% stake in a 777 MW solar and storage portfolio across New Mexico and Texas. The transaction, along with $60 million in tax equity already raised, valued the portfolio at approximately $795 million. The assets include the 632 MW Frye solar plant in Texas and the Jicarilla complex in New Mexico with 125 MW solar and 20 MW / 80 MWh storage. All projects secured long-term revenue contracts. The deal aimed to optimize Repsol’s renewable business financial structure. The transaction was expected to close in Q3 2025, pending regulatory approvals.This followed Repsol’s earlier stake sale to Schroders of 49% in its Spain-based PV and wind portfolio, continuing its asset rotation strategy.