Repsol and EDF Renewables have signed an exclusivity agreement to collaborate on future offshore wind tenders in Spain and Portugal. This strategic partnership aims to leverage the substantial growth opportunities available in the Iberian Peninsula’s offshore wind sector.
Furthermore, the collaboration merges Repsol’s market expertise in Spain and Portugal with EDF Renewables’ advanced capabilities in both fixed and floating offshore wind. Repsol plans to invest between €3 billion and €4 billion net by 2027 to expand its renewable energy portfolio. The company is targeting an installed capacity of 9,000 MW to 10,000 MW by 2027, with half of this capacity located in the Iberian Peninsula and 30 per cent in the US.
In June 2024, Repsol inked six long-term virtual power purchase agreements with Microsoft to supply renewable electricity. The new 12-year supply agreements pertain to three wind farms and three solar plants in Spain, totaling an installed capacity of 230 MW. These projects are expected to be operational by December 2025.
