Repsol Closes in on RE Target with Addition of 794 MW Pipeline

Repsol has announced that it will develop three new RE projects consisting of 2 wind farms and a solar plant with a combined installed capacity of 794 MW

Madrid-based energy company, Repsol has announced that it will develop three new renewable energy (RE) projects consisting of two wind farms and a solar PV power plant with a combined installed capacity of 794 MW as part of its commitment to an efficient and sustainable energy transition.

These acquisitions represent a significant step in the company’s strategic objective of strengthening its position as a low-emissions energy operator in a business with a high potential for organic growth and profitability.

This development adds two wind projects, one located in Zaragoza and the other between Palencia and Valladolid, and a photovoltaic power plant in Cadiz, which will all be developed and are expected to start operation by 2023. The combined output from the three renewable projects amounting to 794 MW capacity will be enough to meet the annual needs of about 650,000 homes.

The Spanish firm has a total installed capacity of 2,952 MW and planned projects worth 1,083 MW from the projects incorporated in the latest development as well as the Valdesolar photovoltaic project in Badajoz and a floating wind facility (WindFloat Project) offshore the northern coast of Portugal that will start operation before the end of the year and will be one of the world’s largest floating offshore wind farms.

The three projects which will be managed by the Repsol Electricidad y Gas (Electricity and Gas) unit, and are in different execution phases and are made up of a 335-MW wind farm in Zaragoza (the Delta project); another in the provinces of Palencia and Valladolid with a total installed capacity of 255 MW; a 204-MW solar project in Cadiz known as Sigma.

All of them are located in areas with very favourable conditions for the production from each type of technology. Combined, they will save 2.3 million tons of CO2 emissions each year compared to the same amount of power generated from coal. The energy they generate will supply the company’s existing client portfolio, which currently totals 890,000 clients (a 19% increase from the start of the business eight months ago), as well as new users.

With these projects, combined with the Valdesolar (Badajoz) and WindFloat (Portugal) projects and its current assets (2,952 MW), Repsol will have achieved 90% of its strategic objective of operating 4,500 MW of low-emissions generation in 2025.