Repsol, EDF Ink Deal For Offshore Wind Project In Spain & Portugal

Repsol, EDF Ink Deal For Spain & Portugal Offshore Wind Project

Repsol and EDF Renewables reached an agreement to join forces in view of the future offshore wind tenders in Spain and Portugal, given that the Iberian Peninsula offers significant growth opportunities.

To develop its portfolio of renewable projects, the company has set an investment framework of between €3 and €4 billion net until 2027. Repsol expects to have 9,000 MW-10,000 MW installed by 2027, of which 50% will be in the Iberian Peninsula and 30% in the United States.

EDF Renewables is a renewable electricity generation with a gross installed wind and solar capacity of 21.2 GW worldwide at the end of 2023.   According to João Costeira, Executive Managing Director of Low Carbon Generation at Repsol: “This alliance between Repsol and EDF Renewables, two of the most significant energy companies in Europe, highlights the interest in the sector to explore renewable energy generation opportunities that offshore wind will provide in Spain and Portugal, once the regulatory framework in both countries is defined.”

Béatrice Buffon, EDF Group Senior executive Vice-president in charge of the International division, Chairwoman, and CEO of EDF Renewables, said: “We are delighted to sign this exclusivity agreement with Repsol, a major energy player in the Iberian Peninsula. Repsol and EDF Renewables will combine their respective expertise to cooperate in future offshore wind tenders in Spain and Portugal, an important step in our development in Europe.”