Repsol buys 860 MW Spanish wind energy portfolio from Forestalia

Repsol has closed the purchase of 860 MW in wind power projects from the green company Forestalia.
The sale includes 26 non-subsidized wind energy projects that will be developed in Aragon between 2020-22, Forestalia said, although the firm did not disclose the financial details of the transaction.
This new wind farm project with wind turbines, called Delta 2, with 26 wind farms, will be built and operated by the Repsol electricity and gas subsidiary, and will be developed over the next three years. The wind turbines parks will be located in Aragon, between the provinces of Huesca, Zaragoza and Teruel, where Repsol also develops the 335 MW of the Delta I wind project, which it acquired last summer from the Aragonese group. In addition, it participates in the Windfloat Atlantic floating wind farm, on the north coast of Portugal, with a capacity of 25 MW, of which 5 MW corresponds to Repsol.

Repsol already manages low emission assets with an installed capacity of 2,952 MW and has plans underway in renewables totaling another 2,045 MW. The company headed by Josu Jon Imaz has seven renewable projects underway in Andalusia, Aragon, Castilla y León, Castilla-La Mancha, Extremadura and Portugal. Delta 2 “will contribute to the objective that Repsol has set for achieving zero net emissions in 2050, the first company in its sector to assume this ambitious goal,” he says.

It is the largest wind portfolio sold so far in Spain. In the field of photovoltaics, its competitor Galp, bought ACS last January 3,000 MW for 2,200 million. Repsol will present on May 5 a new strategic plan, where it will realize its new drift towards decarbonization, with the aim of becoming a neutral company in CO2 emissions in 2050. The planned reduction, compared to 2016, is 10% in 2025 , of 20% in 2030 and 40% in 2040.

Forestalia was the winner of the renewable energy auctions held in Spain in 2016 and 2017, when 1,200 photovoltaic MW were awarded, but a good part of that power (650 MW, including 50 MW of biomass) could not be put into operation in the mandatory term , December 31st. Therefore, he has had to pay the corresponding guarantees: up to a maximum of 60,000 euros per MW.