Major Renewable Energy Push: Repsol Unveils 1,768 MW Wind and Solar Projects in Italy

Major Renewable Energy Push: Repsol Unveils 1,768 MW Wind and Solar Projects in Italy

(IN BRIEF) Repsol is set to develop renewable energy projects in Italy, totaling 1,768 MW. The portfolio will consist of 943 MW of wind projects and 825 MW of photovoltaic solar projects. Over 60% of the projects are in advanced stages of development. Italy has been a focus for Repsol’s international expansion, and the company already has an office in Milan to manage the portfolio. The projects will be located in various regions across Italy. Repsol’s strategic plan aims to reach 6,000 MW of installed capacity by 2025 and 20,000 MW by 2030. The company has a growing presence in renewable energy globally, including operations in Spain, the United States, Chile, and Portugal.

(PRESS RELEASE) MADRID, 18-May-2023 — /EuropaWire/ — Repsol S.A. (BME: REP), a Spanish multinational energy and petrochemical company, is set to develop renewable energy projects in Italy with a total capacity of 1,768 MW. These projects, once operational, will include 943 MW of wind and 825 MW of photovoltaic solar installations, further strengthening Repsol’s portfolio of renewable projects. More than 60% of the projects in Italy are in advanced stages of development.

Italy has been a strategic focus for Repsol’s international expansion as the country offers significant potential and key market opportunities in Europe. Repsol has already established an office in Milan to oversee the management of this portfolio and potential asset growth in the country. The portfolio includes projects acquired through the recent acquisition of Asterion Energies in Italy, covering regions such as Puglia, Lazio, Sardinia, Umbria, Sicily, Basilicata, Molise, and Tuscany.

Repsol plans to commence construction of its first two photovoltaic solar plants in Italy, located in the Puglia region, with a combined capacity of 11 MW.

Renewable Energy Global Presence

As part of its 2021-2025 Strategic Plan, Repsol aims to achieve 6,000 MW of installed capacity by 2025 and 20,000 MW by 2030. The company’s current portfolio already exceeds 2,000 MW of installed renewable generation projects. In December 2022, Repsol completed the acquisition of Asterion Energies, adding a renewable assets portfolio of 7,700 MW.

Beyond its operations in Spain, where it has 1,600 MW of installed capacity in renewables, including wind, photovoltaic solar, and hydro projects, Repsol has an international presence. The company operates 62.5 MW of renewable capacity in the United States, 179 MW in Chile through a joint venture with Ibereólica Renovables Group, and 3 MW in Portugal through its participation in the WindFloat Atlantic floating wind farm.

Repsol also holds an extensive portfolio of new project developments in the United States and Chile. In New Mexico, the Jicarilla 1 solar plant is under construction, with a capacity of 62.5 MW and 20 MW of battery storage. The Frye solar project in Texas, with a capacity of 637 MW, is scheduled to commence operations in 2024. Additionally, Repsol has approved the final investment decision for the Outpost solar farm, with a capacity of 629 MW.

Through the partnership with Grupo Ibereólica Renovables, Repsol gains access to a portfolio of projects in Chile, including those in operation, under construction, and in development, totaling more than 1,600 MW by 2025, with a potential capacity exceeding 2,600 MW by 2030.

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SOURCE: Repsol