Frye Solar (632 MW TX) + Jicarilla Solar (125 MW NM) + 20 MW co-located BESS — Repsol US operating renewables (46.3% stake)
Stonepeak acquires 46.3% stake in Repsol's 777 MW US operating solar + storage portfolio. Concurrent agreement: Stonepeak invests $252.5M for 43.8% of 629 MW Outpost Solar (TX, $775M EV; long-term PPA, COD Aug 2025). First Repsol-Stonepeak partnership. Repsol retains operating control. Capital recycled to fund pipeline.
$340M
Deal Value
777MW
Capacity
Solar + Storage
Technology
NM, TX
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Repsol
- Buyer / Financier
- Stonepeak Infrastructure Partners
- Deal Value
- $340M (46.3% stake; portfolio EV $735M)
- Stage
- Operating
- ISO/RTO
- ERCOT, Western
- Source
- Stonepeak
Service Providers
Advisory & Legal
- Buyer Counsel
- Vinson & Elkins
- Buyer Financial Advisor
- Greenhill & Co.
- Seller Counsel
- Latham & Watkins
- Seller Financial Advisor
- Nomura Greentech
- Financial Advisor
- Greenhill & Co., Nomura Greentech
- notes
- Stonepeak's first US renewables partnership. Greenhill (Mizuho) for Stonepeak; Nomura Greentech for Repsol. V&E for Stonepeak; Latham for Repsol.
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