Repsol and EDF Renewables have formed an exclusive agreement to collaborate on upcoming offshore wind tenders in Spain and Portugal, recognizing the substantial growth potential in the Iberian Peninsula.
Repsol’s Renewable Energy Ambitions
Renewable energy projects are a key pillar of Repsol’s energy transition strategy. The company has allocated a net investment of €3-€4 billion until 2027 to expand its renewable portfolio.
By 2027, Repsol aims to have 9,000-10,000 MW of installed capacity, with 50% located in the Iberian Peninsula and 30% in the US.
EDF Renewables’ Expertise in Offshore Wind
EDF Renewables is a global leader in renewable energy generation, boasting a gross installed capacity of 21.2 GW of wind and solar power worldwide by the end of 2023.
The company has over a decade of experience in offshore wind, particularly in Europe, the birthplace of this technology.
EDF Renewables is also a pioneer in floating offshore wind solutions. As a major player in the global energy transition, the company develops, constructs, and operates competitive, responsible, and value-creating projects to combat climate change.
Combining Strengths for Iberian Offshore Wind
This collaboration merges Repsol’s commitment to multi-energy expansion and deep understanding of the Spanish and Portuguese markets with EDF Renewables’ expertise in both fixed and floating offshore wind technologies.
The partnership aims to support Spain and Portugal’s renewable energy goals.
Executive Perspectives on the Alliance
João Costeira, Repsol’s Executive Managing Director of Low Carbon Generation, commented: “This alliance between Repsol and EDF Renewables, two of Europe’s most significant energy companies, underscores the industry’s interest in exploring renewable energy opportunities presented by offshore wind in Spain and Portugal, once regulatory frameworks are established.”
A Step Forward in European Development
Béatrice Buffon, EDF Group Senior Executive Vice President of the International Division and Chairwoman and CEO of EDF Renewables, added: “We are delighted to sign this exclusive agreement with Repsol, a major energy player in the Iberian Peninsula. Repsol and EDF Renewables will combine their respective expertise to cooperate in future offshore wind tenders in Spain and Portugal, an important step in our development in Europe.”