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- The companies have signed an exclusivity agreement to cooperate in future tenders for offshore wind energy in the Iberian Peninsula.
- The collaboration highlights Repsol's commitment to multi-energy growth and its knowledge of the Spanish and Portuguese markets, as well as EDF Renewables' experience in offshore wind, whether fixed or floating.
Repsol and EDF Renewables have reached an exclusivity agreement to join forces for future offshore wind tenders in Spain and Portugal, given that the Iberian Peninsula offers significant growth opportunities.
Renewable generation projects are one of the strategic pillars of Repsol's energy transition process. To develop its renewable project portfolio, 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 in 2027, of which 50% will be in the Iberian Peninsula and 30% in the United States.
EDF Renewables is a global leader in renewable electricity generation, with a gross installed wind and solar capacity of 21.2 GW worldwide by the end of 2023. The company has more than 10 years of experience in offshore wind energy, with a proven presence in Europe, the cradle of offshore wind energy. EDF Renewables is also one of the pioneers in floating technology. As a major player in the global energy transition, EDF Renewables develops, builds and operates competitive, responsible and value-creating projects to fight climate change.
This collaboration combines Repsol's commitment to multi-energy growth and its knowledge of the Spanish and Portuguese markets with EDF Renewables' experience in offshore wind, whether fixed or floating, to support Spain and Portugal's renewable energy objectives.
According to João Costeira, General Manager of Low Carbon Generation at Repsol: “This alliance between Repsol and EDF Renewables, two of the most important energy companies in Europe, demonstrates the interest of the sector in exploring the 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, President and CEO of EDF Renewables, said: "We are delighted to sign this exclusivity agreement with Repsol, one of the main energy players in the Iberian Peninsula. Repsol and EDF Renewables will combine their respective expertise to cooperate on future offshore wind tenders in Spain and Portugal, an important step in our development in Europe."
About EDF Renewables
EDF Renewables is an international energy company that develops, builds and operates renewable energy generation plants.
As a major player in the energy transition worldwide, EDF Renewables deploys competitive, responsible and value-creating projects within EDF. In all countries, our teams demonstrate their commitment to local stakeholders every day, bringing their expertise and innovative capacity to the fight against climate change.
By the end of 2023, EDF Renewables operates a net installed wind and solar capacity of 12.8 GW (21.2 GW gross) worldwide. Mainly present in Europe and North America, EDF Renewables is continuing its development by positioning itself in promising emerging markets such as: Brazil, China, India, South Africa and the Middle East. Historically active in onshore wind and photovoltaics, the company is now strongly positioned in offshore wind, as well as in new technologies such as energy storage, floating solar and agrivoltaics.
About Repsol
Repsol is a multi-energy company with a global presence that can meet all of its customers' energy needs at home and on the move. It employs 25,000 people in more than twenty countries and has 24 million customers. Its extensive network of more than 4,500 service stations supplies fuel in Spain, Portugal, Peru and Mexico, and is also incorporating alternatives such as electric recharging, 100% renewable fuels, AutoGas and vehicular natural gas. It is the fourth largest electricity supplier in Spain and has a diversified renewable generation portfolio, with an installed capacity of approximately 3,000 MW, mainly in Spain, the United States and Chile. It produces an average of 599,000 barrels of oil equivalent per day and has one of the most efficient refining systems in Europe. Repsol is transforming its six industrial complexes in the Iberian Peninsula into multi-energy centres capable of treating a wide variety of raw materials and waste to manufacture products with a low carbon footprint, such as 100% renewable fuels, which will be key to achieving its goal of becoming a net-zero emissions company by 2050.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
