Spanish Petroleum and Natural Gas REPSOL has announced the plan to build a 1768 MW of renewable energy projects in Italy. The combination will include 943 MW of wind energy projects and 825 MW of solar projects. More than 60%of the projects are in the later stages of development.
Several projects in the investment portfolio were obtained through the acquisition of Spanish Corporation Asster Energies in 2022. Repsol agreed to acquire at a price of 560 million euros, as well as 20 million euros or payment.
Asterion had a combination of 7.7GW renewable energy projects before. Most of these projects are under development, including 4.9GW solar energy and 2.8GW wind energy, of which 2.5GW is in the post -development stage or under construction. The newly announced investment portfolios are mainly located in Brazil, Lazio, Morisse, Plia Sardine, Sicily, Toscan and Weibrida. REPSOL is expected to begin construction in the first two solar power plants in the Polia region in southern Italy. They will have a capacity of 11MW.
The acquisition is part of the REPSOL 2021-15-year strategic plan. The plan is expected to be installed by 6GW by 2025, and the installation capacity will be 20GW by 2030. The company has 1.6GW wind, solar and hydraulic renewable energy in Spain.
In February 2023, it agreed to acquire Abo Wind, adding 250 MW of wind and solar combination. The company also operates 62.5mW in the United States. It operates 179MW in Chile by participating in Windfloat Atlantic floating wind farm by joint venture with iBereólica Renovables Group in Chile 3MW.
Repsol is building a solar power plant in New Mexico 1 in New Mexico, with a capacity of 62.5MW, a battery energy storage of 20MW, and a 637MW Frye solar project in Texas. Frye is expected to begin operations in 2024. It also made a final investment decision on the 629MW outPost solar farm.
