Repsol to buy 250 MW renewable portfolio in Spain

Repsol, a Spanish energy company, has agreed to buy ABO Wind’s 250 MW portfolio of renewable energy sources in Spain. The Palencia-based portfolio consists of two solar projects with a combined capacity of 100 MW and three wind farms with a combined capacity of 150 MW. ABO Wind will be responsible for developing these projects for Repsol under the terms of the deal. No financial details of the deal have been disclosed.

The renewable assets are now in advanced development and are projected to be operational within the next two years. They will share a connection infrastructure with Repsol’s first renewable energy project in Castilla y León, the PI wind farm. Repsol further stated that the solar and wind farms already have a positive Environmental Impact Statement (EIS). Once completed, they will eliminate 266,000 tonnes of carbon emissions annually and produce sustainable energy for about 172,000 homes.

According to the agreement, Repsol currently has 3.2 GW of renewable energy assets in Spain, all of which are either operational, under construction, or at an advanced stage of development. By 2025, Repsol aims to add 6 GW of renewable energy capacity while also advancing towards its decarbonisation goals. In February 2023, Repsol Ibereolica Renovables Chile completed the 165.3 MW Atacama wind farm in Huasco, Chile. The facility has the ability to produce 450 GWh of renewable energy annually, which is sufficient to power more than 150,000 Chilean households while displacing 320,000 tonnes of carbon emissions.