Galp has agreed to acquire a 351 MW portfolio of operational onshore wind assets in Spain from Helia, a joint venture between Plenium Partners and Bankinter Investment. The transaction, valued at approximately €320 million in equity terms, is expected to close in the second quarter of 2026, reinforcing the company’s growth and diversification strategy in the Iberian renewable energy market.
The portfolio comprises 17 wind farms located in areas with strong wind resources, with an average commercial operation date of 2009. Operating under market conditions and backed by a solid track record, the assets generate an average of around 750 GWh per year.
This acquisition marks a significant step in Galp’s evolution as a renewable energy producer, enabling it to balance a portfolio previously dominated by solar PV with a stronger presence in wind power generation. Following the transaction, Galp’s installed renewable energy capacity reaches 2 GW, with wind now accounting for approximately one quarter of its total renewable output.
The transaction is aligned with Galp’s net investment guidance for 2025–2026, set at an average of up to €800 million per year. This strategic move strengthens the sustainability of the company’s growth trajectory in renewables, contributing to a more diversified and resilient portfolio.
“This acquisition reflects our long-term vision for renewable energy: to grow in a disciplined manner, with high-quality assets, and to build a more diversified and resilient portfolio. The complementarity between solar PV and wind power allows us to reduce volatility, enhance the production profile, and strengthen sustainable value creation,” said Georgios Papadimitriou, Executive Vice President for Renewables at Galp.
Galp’s Renewables business unit focuses on the development, construction and operation of renewable electricity generation assets, with a strong emphasis on the Iberian Peninsula. The company is currently one of the leading solar PV operators in the region, with 1.7 GW of installed capacity across Portugal and Spain. This portfolio is complemented by projects under construction and development, as well as investments in energy storage and hybridisation, enhancing the competitiveness of its electricity output, reducing carbon intensity and supporting grid resilience.
Galp currently has more than 350 MW of solar and battery storage projects under construction, expected to be commissioned by the end of 2026. The company continuously adapts its strategy to evolving market conditions, ensuring the long-term economic sustainability of its portfolio.
