Repsol Selling 49% Of Spanish Renewables

Repsol Selling 49% Of Spanish Renewables

Repsol will probably use the money from the sale to invest more in renewable energy. The investment is worth $1.8bn.

Repsol is going to sell 49% of its wind and solar power projects in Spain.

Repsol is valuing its stake at $862m for wind and solar operations in Spain. The information comes from sources at the Spanish business journal El Confidencial.

Repsol owns 3.2GW of renewable energy assets in Spain. Some of them are active, under construction or still in development. 1.6GW of them are active.

By 2025, the company wants to have 6GW of productive capacity worldwide. They also aim to have an additional 14GW by 2030. They recently bought a 250MW renewable portfolio from ABO Wind to help with this goal. Repsol is present in Spain, Portugal, Italy, Chile, and the US.

Repsol will build 1.7GW of renewable energy in Italy. It started its first renewable project in Castilla y Leon, Spain. They've been growing their portfolio of renewable energy projects lately.

Repsol made $1.19bn in Q1 2023. They put $1.8bn into renewable energy in Spain. Repsol aims to put 35% of their investment in 2023 into renewable energy.

The Repsol CEO, Josu Jon Imaz, says they have launched a new commercial offer in Spain. This offer combines all the energies needed for mobility and the home. It helps customers in their daily lives. The offer strengthens the company's vision.

"Connected Energies" is a program by Imaz. It gives discounts to people in Spain when they buy fuel. The discount can range from €0.05 to €0.20 per liter. The program covers fuel for vehicles and also energy for the home, like heating, electricity, and solar power.

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