/LONDON, July 27, 2026, 10:00 BST, RENEWABLE MARKET WATCH™/
Galp has advanced its strategy to optimise and diversify its power portfolio by acquiring a fully operational 361 MW onshore wind portfolio in Spain from Acciona Energía. This latest transaction, following an earlier wind acquisition in Spain announced in April, significantly expands Galp’s renewables platform in terms of both scale and technology mix, reinforcing its position as a leading player in the Iberian clean energy market.
Aligned with Galp’s broader capital optimisation initiatives, this acquisition enhances the company’s ability to pursue strategic partnerships, explore alternative ownership models, and implement innovative financing structures. Importantly, it preserves Galp’s flexibility to capitalise on long-term growth opportunities within the Iberian power market while optimising risk-adjusted returns. The acquired portfolio consists of 15 onshore wind farms strategically distributed across high-resource regions in Spain, each with a proven operational track record. Averaging a commercial operation date of 2005, these fully operational assets are projected to generate approximately 0.8 TWh of electricity per year under current merchant market conditions, providing immediate revenue contributions and strengthening Galp’s energy production capabilities.
With simultaneous signing and closing and no conditions precedent, the transaction was executed at an enterprise value of €420 million as of January 1, 2026, with no associated net debt. This immediately accelerates Galp’s renewable energy capacity expansion while optimising capital deployment and reducing the need for future organic investment, delivering a step-change in scale for the company’s renewables platform.
As a result of this acquisition, Galp’s total installed renewable capacity will rise to 2.7 GW, supporting the delivery of approximately 5 TWh of annual power generation—of which wind will account for around 30%. The expanded and diversified technology mix will optimise Galp’s energy generation profile, increase access to higher-margin opportunities in power markets, and further reinforce the company’s returns and competitiveness in the renewable energy sector.
With both wind portfolios consolidated from the beginning of the year, Galp Renewables’ expected EBITDA for 2026 is estimated at approximately €110 million. This represents a substantial increase in operational scale and profitability, demonstrating the tangible financial impact of Galp’s targeted growth strategy in the renewables sector.
For more information and answers to your questions about the Iberian wind power market and related content, you may read here: Europe Wind Power Market Outlook 2025 – 2034
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