Repsol, a fossil fuel company, agreed to acquire a 50% stake in Chilean assets of Grupo Ibereolica, a renewable energy company for $198m. The joint venture in Chile will have a diversified portfolio of assets (52% wind and 48% solar) which are distributed into 78 MW of renewable generation capacity already in operation, 110 MW under construction, 1,500 MW in advanced stages of development which will be operational in 2025 and another 1,000 MW planned for 2030, located mainly in the northern regions of Antofagasta and Atacama.