Repsol taps Santander to seek partners for renewables unit, Expansion says

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A Repsol logo at a petrol station in Bormujos near the Andalusian capital of Seville, southern Spain March 3, 2016. REUTERS/Marcelo del Pozo

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MADRID, July 15 (Reuters) - Spanish energy company Repsol (REP.MC) has hired Santander (SAN.MC) to help find partners for its low-carbon business ahead of a potential public listing, Expansion newspaper reported on Thursday, citing unnamed sources.

The company plans to find a partner or partners for each of its renewable assets to help boost their market value, Expansion said.

Repsol and Santander declined to comment.

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Repsol Chief Executive Josu Jon Imaz said in April that the group was in talks with possible partners and may form a joint venture for the business before launching an IPO later.

The potential listing of this unit is hotly anticipated even though the company has said it plans to take its time.

As part of an industry-wide shift away from planet-warming fossil fuels, Repsol plans to grow its renewable generation capacity by more than 10 times from the 1 gigawatt of hydropower and wind capacity it had installed at the end of last year.

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Reporting by Nathan Allen; Editing by Emelia Sithole-Matarise

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