Galp Energia is considering a sale of renewable assets totaling 2.70 GW. A gigawatt (GW) is a unit of power, and it is equal to one billion watts.
The possible disposal is linked to a proposed combination of Galp refineries and service stations with Spanish energy group Moeve. The reported structure would place one Galp refinery and two Moeve refineries into a joint venture, while the companies would combine their fuel station networks in a 50/50 venture, AKM reported.
Galp recently acquired 17 onshore wind farms in Spain for EUR 320.0 million, increasing its wind energy share to 30.00 percent, according to AKM. The potential sale would therefore reshape a recently expanded renewable platform rather than represent a small operating adjustment.
Full story Galp Energia considers 2.70 GW sale and Galp Energia stock sits 5.48 percent below high
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