Zara Billionaire Boosts Renewable Investments With Repsol Deal

Amancio Ortega, the billionaire founder of Inditex SA’s Zara clothing chain, agreed to buy a 49% stake in a Spanish clean energy portfolio from Repsol SA for €363 million ($395 million), its largest acquisition of renewable energy assets so far.

The portfolio comprises 12 wind farms and two solar photo-voltaic plants located across Spain, with a total capacity of 618 megawatts, Madrid-based Repsol said in a regulatory filing on Thursday. It also includes projects with hybridization potential, which would add an additional 279.2 megawatts.

The move consolidates the recent bet by Ortega’s family office Pontegadea on energy and outside ...