Galp Energia Buys Wind Portfolio in Spain in €320 Million Deal

Galp Energia SGPS SA has agreed to acquire an onshore wind portfolio in Spain from Helia Funds in a transaction valued at €320 million ($373 million), as Portugal’s largest oil company accelerates efforts to diversify its clean energy portfolio beyond solar.

The deal, which consists of 17 wind farms, will lift Galp’s total installed renewable capacity to around 2 gigawatts, according to a regulatory filing on Thursday. Helia Funds is backed by Plenium Partners and Bankinter Investment.