Repsol to develop more than 1,700 MW of renewable energy projects in Italy
Repsol will develop renewable projects in Italy totalling 1,768 MW. Specifically, it has a portfolio in the country that, once fully operational, will add 943 MW of wind and 825 MW of solar photovoltaic projects to the multi-energy company’s renewable projects portfolio. Of these, more than 60% are at an advanced stage of development in the country, according to the multi-energy company.
With the aim of becoming a global player in renewable energy, Italy is one of the countries in which Repsol has set its focus for international expansion, as it offers great potential to strengthen its position in markets, such as Italy, which are key in Europe.
Repsol already has an office in Milan to manage this portfolio and the possible increase in assets in the country. The acquisition of various projects, together with those from the recent purchase of Asterion Energies in Italy, make up a portfolio located in the regions of Puglia, Lazio, Sardinia, Umbria, Sicily, Basilicata, Molise and Tuscany.
In fact, the company plans to soon begin construction of its first two solar photovoltaic plants in the territory, which will have a capacity of 11 MW and will be located in the region of Puglia (southern Italy).
Repsol’s international presence in renewables
Repsol’s 2021-2025 Strategic Plan envisages reaching 6,000 MW of installed capacity by 2025 and 20,000 MW by 2030, and the multi-energy company’s current portfolio of installed renewable generation projects totals more than 2,000 MW. In December 2022, Repsol signed the acquisition of Asterion Energies, incorporating a portfolio of renewable assets of 7,700 MW.
Apart from its activity in Spain, where it has 1,600 MW of installed capacity in renewables, including wind, solar photovoltaic and hydro, Repsol already has 62.5 MW in operation in the United States, 179 MW in Chile -through the joint venture with the Ibereólica Renovables Group-, and 3 MW in Portugal, through its stake in the WindFloat Atlantic floating wind farm.
In both the United States and Chile, Repsol has a broad portfolio for developing new projects. In New Mexico, it is building the Jicarilla 1 photovoltaic plant, with an installed capacity of 62.5 MW and 20 MW of battery storage.
The company is also building the 637 MW Frye solar PV project in the state of Texas, which will come into operation in 2024, and has approved the final investment decision for the 629 MW Outpost solar farm. In Chile, the alliance with Grupo Ibereólica Renovables gives Repsol access to a portfolio of projects in operation, construction and development of more than 1,600 MW until 2025 and the possibility of exceeding 2,600 MW in 2030.
