Tuesday, December 5, 2023

Repsol has reached 60 GW of renewable portfolio in the world

Repsol has a portfolio of 60 GW of renewable assets, which will serve as a guarantee of its goal of reaching 6 GW of installed capacity in 2025 and 20 GW in 2030. In September, the Spanish company entered onshore wind business in the United States, following the acquisition of ConnectGen, with a 20 GW project portfolio and development capabilities. In total, Repsol has 2 GW of renewable energy production in Spain and Chile and, in addition, is developing projects in Italy and the United States that it also acquired from Asterion.

The oil company must also decide this next year whether to carry out the purchase of Hecate Energy that was approved by shareholders in the United States.

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The oil company has set itself as an important milestone to produce 1.3 million tons of renewable fuel in 2025 and 2 million tons in 2030. To achieve this, the first plant in the Iberian Peninsula that dedicated exclusively to the production of advanced biofuels and sustainable aviation. fuel (SAF) in the Cartagena industrial complex. The plant will produce 250,000 tons per year, which will allow emissions to save 900,000 tons of CO2 per year, equivalent to the savings made by more than 400,000 electric vehicles.

In his speech, the CEO of Repsol, Josu Jon Imaz, advocated for a more holistic approach to energy transfer in Europe to overcome the challenges presented by a complex and constantly changing environment and thus guarantees a balanced answer to the energy trilemma: energy sustainable. , safe and affordable for citizens and companies.

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“We need to rethink the energy transition in Europe. We refuse to invest in some energy sources for ideological reasons, not technological or scientific reasons. As a result, consumers pay more for the energy they need, and energy-intensive industries struggle. to compete in world markets, have to close or move to other regions,” he explained. He also called for a transition without based on restrictions or vetoes, but on allowing all technological solutions to compete or cooperate with each other and show their value without ideological bias and without rejection.

Nation World News Desk
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