Amancio Ortega took the plunge at the age of 85. It is banking on a wind farm located in the northeast of Spain.
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Amancio Ortega, multibillion-dollar boss of the Zara brand, will provide funds to develop a wind farm alongside the oil group Repsol. The businessman, who made his fortune with his clothing empire, has invested exactly 245 million euros through his company Pontegadea in this wind farm called Delta located in the Zaragoza region. An investment that allows him to own half of the wind farm. Entered into service last March, this wind farm has a capacity of 990 gigawatts / hour, the equivalent of the annual consumption of a city of 300,000 households. This is the first investment by the founder of Zara in the renewable energy sector.
Is it sincere or does it rather participate in what is called greenwashing, “green washing” in French, that is to say to give oneself a good conscience by investing in the environment? In reality, the parent company of the Zara brand aims to become a “zero carbon emission” company by 2050. There is therefore obviously a real industrial desire. The investment in this wind farm with the oil company Repsol will allow Zara’s parent company to accelerate growth in this sector. Amancio Ortega has developed over the years a veritable financial empire and two years ago it launched into conventional energy by taking a stake of almost 300 million euros in the gas transport group Anagas.
The fortune of the founder of Zara is estimated today by the American magazine Forbes at 67 billion euros, making him one of the richest men in the world. In addition to its recent investment in renewable energies, Amancio Ortega also has a real estate portfolio of around fifteen billion euros. This portfolio includes the Amazon headquarters in Seattle in the United States, the Picasso Tower in Madrid and many buildings in Paris, New York, London and Barcelona.