Galp steps up divestments in renewables in Spain

The Portuguese energy company Galp is divesting its interests in renewable energy assets in Spain as part of a review of its strategy on the Iberian peninsula, selling off solar projects in Aragon.

The move, according to Spanish daily El Economista, that switches focus from renewables to expanding its auxiliary services, storage and hybridisation.

More concretely, it has agreed the sale of solar projects with a capacity of 525 megawatts (MW) to the platform Ignis in an operation completed at the end of 2025.

Ignis is a Spanish renewable energy company (ignis.es) that manages generation assets, develops green hydrogen projects (P2X), and offers AI-driven energy optimisation.

According to the Spanish news source, the operation involves five photovoltaic projects located in Aragon, in a phase close to ‘ready to build’, the value of which has not been disclosed. This is Galp’s first significant divestment in Spain since the group granted BNP Paribas a mandate in 2023 to analyse the sale of part of its renewable portfolio.

Galp’s renewable energy portfolio in the Iberian Peninsula totals around 1.7 gigawatts (GW) of installed capacity and mainly included solar projects in Aragon, as well as assets in Portugal and Castile-La Mancha, and projects under development in other markets, such as Brazil. The assets now sold were part of the Galp New Energies area and were structured through various corporate vehicles in Spain.

Image: Galp Energia