Spain’s Repsol Acquires 250 MW of Wind & Solar Assets from Germany’s ABO Wind

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Spanish multinational energy firm Repsol has purchased 250 MW of renewable assets from German developer ABO Wind in Spain that come in the face of three wind farms and two solar plants. With the acquisition of these projects, the renewable portfolio of Repsol in Spain now totals 3,200 MW.

The three wind farms, totalling 150 MW, and the two photovoltaic plants totalling100 MW, are located in Palencia and will share interconnection infrastructure with part of PI, the firm’s first renewable project in Castilla y León.

All the assets acquired by Repsol in this transaction are at an advanced stage of development, already have a positive EIS and are expected to come into operation between 2024 and 2025.

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Repsol said that when completed, the renewable generation from these five facilities will supply electricity to nearly 172,000 homes and avoid the emission of 266,000 tons of CO2 per year. The agreement includes that ABO Wind will be in charge of developing these projects for Repsol.

New Farms In Operation

Repsol wants to achieve its decarbonization targets and reaching 6,000 MW of renewable installed capacity by 2025. Thus, recently, in addition to the commissioning of the first PI wind turbines – a facility that will have a capacity of 175 MW – it has added two new operational wind farms to the Delta II project in Aragon.

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It said that this facility consists of 26 wind farms with a total capacity of 860 MW, the company’s largest renewable project to date.

In addition to these assets, Repsol has Delta wind farm with 335 MW and Valdesolar solar plant of 264 MW. It also has the Kappa photovoltaic complex of 126.6 MW in Manzanares in operation.

ABO Wind says that its pipeline of projects under development in Spain is growing as 13 projects totalling 650 MW have already obtained a favourable EIS.

Repsol maintains its roadmap to achieve its decarbonization goals and become a zero net emissions company by 2050, with a current portfolio of installed renewable generation projects totaling more than 1,800 MW.

In addition to its activity in Chile, the company has 1,600 MW of installed renewable capacity in Spain, 62.5 MW in the United States and 3 MW from the WindFloat Atlantic floating wind farm (Portugal). Repsol’s target for installed renewable generation capacity is to reach 6,000 MW by 2025 and 20,000 MW by 2030.

In June last year, the firm incorporated EIP and Crédit Agricole Assurances as minority partners to boost its renewable business.