Repsol and EDF Renewables seal exclusive deal for offshore wind ventures
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Repsol and EDF Renewables announced the signing of an exclusivity agreement to collaborate for future offshore wind tenders in Spain and Portugal, considering the Iberian Peninsula offers areas of growth.
This partnership combines Repsol’s dedication to expanding multiple energy sources and understanding of the Spanish and Portuguese markets with EDF Renewables’ proficiency in offshore wind, both fixed and floating.
The combination of this expertise aids in achieving Spain’s and Portugal’s renewable energy goals.
Also read: Microsoft and Repsol ink six long-term renewable energy VPPAs
João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol, said, “This alliance between Repsol and EDF Renewables, two of the most significant energy companies in Europe, highlights the interest in the sector to explore the renewable energy generation opportunities that offshore wind will provide in Spain and Portugal once the regulatory framework in both countries is defined.”
Repsol’s energy transition process considers renewable generation projects a key element. To expand its portfolio of renewable projects, the company has established an investment framework of €3 to €4 billion net until 2027.
By 2027, Repsol aims to have 9,000 MW-10,000 MW of installed capacity, with 50% being in the Iberian Peninsula and 30% in the United States.
EDF Renewables is a global player when it comes to renewable electricity generation, with a gross installed wind and solar capacity of 21.1 GW worldwide as of 2023.
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