Repsol has added to its portfolio of assets and will develop three new renewable projects in Spain, two wind power plants and one solar, with a capacity of some 800 megawatts (MW), the company said, detailing that the solar project will be developed in the province of Cádiz, with 204 MW of capacity. The development of these three renewable projects amounts to an investment of some 700 million euros.
In a statement, the group indicated that, with these projects, they will be located between the provinces of Zaragoza and Teruel (Aragón) and between Palencia and Valladolid (Castilla y León), in the case of the two wind farms, and in Cádiz, the photovoltaic plant, “takes another significant step” in its strategic objective of promoting as operator a low emission business with great potential for organic growth and profitability. In particular, the ‘Delta’ wind project, of 335 MW, will be developed in Aragon; The ‘PI’ wind farm, of 255 MW, will be carried out in Castilla y León; and in Cádiz the solar project ‘Sigma’, of 204 MW.
These new renewable projects in Repsol’s portfolio, in addition to the 264 MW Valdesolar (Badajoz) photovoltaic plant, which is in the final stages of administrative processing, are expected to be developed and put into operation in the next four years with its total installed capacity of 794 MW, the equivalent to the electricity supply of some 650,000 homes per year.
In addition, the three new projects will mean a reduction of emissions of around 2.3 million tons of CO2 “per year in relation to coal-fired power generation.
The subsidiary Repsol Electricidad y Gas of the group will be in charge of managing these projects, which have land available and are guaranteed connection to the network.
The energy generated will serve to supply the needs of the company and its current portfolio of electricity customers, which today amounts to 890,000 (approximately 2.4% of the market share in Spain), after of having increased 19% since it began its commercialization activity after acquiring its assets last November to Viesgo, as well as potential customers.
Repsol currently has a total installed capacity of 2,952 MW and these three projects, the Valdesolar photovoltaic plant and WindFloat’s floating wind farm in Portugal – where it is a partner of EDP Renovavéis – allow it to add another 1,083 MW, which consolidate it as a relevant player in the generation of low emission electricity in the Iberian Peninsula.
Thus, with these projects, the company chaired by Antonio Brufau will reach 90% (4,035 MW) of its goal of low emission generation capacity, estimated at around 4,500 MW in the year 2025.
Repsol contemplates in its 2020 strategy investments in this low-emissions business of 2,500 million euros, with the objective of reaching 2.5 million retail customers of electricity and gas in Spain in the horizon of 2025, with a higher market share to 5%.