In December 2006, Eolia Mistral, Eolia Gregal, Preneal and Banco de Sabadell signed an initial agreement that was materialised in July 2007 with the formal incorporation of Eolia Renovables de Inversiones, SCR, S.A., registered with the Venture Capital Companies Administrative Registry of the Spanish Securities and Exchange Commission (CNMV) on September 14, 2007 under number 148.

Eolia Renovables was funded and took on board 157 partners brought in a total of 1,358 MW between farms in operation, under construction or in the final stage.

Of the partners who are developers bringing in assets the following stand out: Preneal (founded in 1996) which contributed in excess of 300 MW; Tarraco Eólica (founded in 1997), also with over 300 MW; Wigep Andalucía (founded in 1996) with 74 MW; Luria de Energías (founded in 1998) with 64; Molinos de Castilla (founded in 2000) with 75 MW or Dea Energías (founded in 1999) which is contributing 18 MW. Following this initial phase, new partners have continued to sign up to the project.

Since the establishment of Eolia Renovables in 2007 have been several milestones.