Looks good on the surface, but looking up the options in a database I see Re1 (and earlier) to be better). Perhaps, it gives white more central domination and the knight can sit on e5 for a while before being confronted.
It's better that black takes the pawn, this variation is unavoidable for black unless he doesn't regain the pawn, white always has a slight advantage in openings which is unavidable for black, it is blacks turn in this variation, once black has taken his turn black will be able to equalise, the Ruy Lopez is known for being difficult for black to equalise with, unless white decides to simplify the game earlier on in the opening or the middlegame.
What do you think of this?