Penelope Cruz wows in two stunning looks at the inaugural Nouvelles Vagues Festival in Biarritz

Penelope Cruz wowed in not one but two stunning looks as she attended the inaugural Nouvelles Vagues Festival in Biarritz, France as the guest of honour.

The Spanish actress, 49, looked incredible as she firstly stepped out in a semi-sheer patterned maxi dress at a photo call for the new festival, which is dedicated to films about youth. 

The black Chanel number featured hues of red, blue, yellow and green and also had pretty ruffled sleeves and a belted detail.

Penelope teamed the outfit with black wedges, a pink handbag and dark sunglasses, while her brunette tresses were left to cascade over her shoulders. 

As night fell at the festival, the Vanilla Skit star upped the glam as she slipped into a racy black mini dress.

Stunner: Penelope Cruz wowed in not one but two stunning looks as she attended the inaugural Nouvelles Vagues Festival in Biarritz, France as the guest of honour

Wow: The Spanish actress, 49, looked incredible as she firstly stepped out in a semi-sheer patterned maxi dress at a photo call for the new festival, which is dedicated to films about youth

Penelope, who was the inaugural guest of honor at the event, wowed as she showcased her toned legs in the thigh-skimming number.

She teamed the button detailed pinafore style dress with a towering pair of black heels, further accessorising her look with a white quilted handbag.

The wife of film star Javier Bardem swept her glossy locks into a high ponytail, while highlighting her features with a sleek palette of make-up.

Penelope looked in good spirits as she smiled for snaps and mingled with other attendees at the glam event. 

It comes following the news that Scarlett Johansson and Penelope may be working together again.

The actresses memorably kissed in Woody Allen’s love triangle story Vicky Cristina Barcelona with Javier Bardem from 2008.

Now Scarlett and Penelope are in talks to work with Michael Fassbender and Owen Wilson in a Netflix film from director Nancy Meyers.

The big-budget movie is currently titled Paris Paramount.

So chic: The black Chanel number featured hues of red, blue, yellow and green and also had pretty ruffled sleeves and a belted detail

Flawless: Penelope looked radiant as she smiled for snaps at the inaugural festival in France 

Lovely: Penelope teamed the outfit with black wedges, a pink handbag and dark sunglasses, while her brunette tresses were left to cascade over her shoulders

Oh hello! As night fell at the festival, the Vanilla Skit star upped the glam as she slipped into a racy black mini dress

Work it: Penelope, who was the inaugural guest of honor at the event, wowed as she showcased her toned legs in the thigh-skimming number

Gorgeous: She teamed the button detailed pinafore style dress with a towering pair of black heels, further accessorising her look with a white quilted handbag

It tells the story of an above-the-line filmmaking duo who begrudgingly reunite on set after falling in and out of love with one another.

Nancy is directing from her own script and also serves as a producer on the film.

This marks her first behind the camera since the 2015 flick The Intern. 

That drama starred Robert DeNiro as the intern and Anne Hathaway as his type A boss.

Sources say that actor deals for Paris Paramount are yet to be sealed as budgeting on the project is still being worked out.

Netflix has not commented on the news.