View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
July 24, 2020updated 18 Aug 2020 4:39am

Repsol to purchase 1.6GW of renewable assets in Chile

Repsol has agreed to form a joint venture (JV) with Grupo Ibereólica Renovables to manage a portfolio of renewable energy projects in Chile.

Repsol has agreed to form a joint venture (JV) with Grupo Ibereólica Renovables to manage a portfolio of renewable energy projects in Chile. The projects may generate up to 1.6GW in 2025, possibly exceeding 2.6GW in 2030.

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

As per the terms of the agreement, the two companies will create a JV equally divided between them.

Repsol will pay $195m (€168m) before 2023. It will also have the option to take full control of the JV from 2025.

Repsol’s funds will strengthen the JV’s resources and enable construction of three wind farms and two solar farms over the next five years. These will have a total installed capacity of more than 1.6GW.

The JV will split is portfolio of assets to 52% wind and 48% solar generation. Of these, 78MW of capacity is already in operation.

Additionally, construction continues on 110MW of assets, and 1.5GW are said to be in advanced stages of development. Operations on these will start in 2025.

Another 1GW renewable capacity is being planned for 2030.

Development of the projects focuses on Chile’s northern regions of Antofagasta and Atacama.

The agreement will now seek regulatory approval before completion. Repsol says this deal will help it advance towards net-zero emissions by 2050.

In March this year, Repsol expanded its renewable energy portfolio with an 860MW wind farm project. Located in the northern region of Aragon, the Delta 2 project consists of 26 wind farms.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU