EDF Renewables and Repsol have signed an exclusivity agreement to collaborate on future offshore wind tenders in Spain and Portugal.
According to the press release, this collaboration combines Repsol’s commitment to multi-energy growth and its knowledge of the Spanish and Portuguese markets with EDF Renewables’ technological experience.
Repsol said that it expects to have 9,000 MW to 10,000 MW of installed capacity in 2027, of which 50 per cent is planned to be in the Iberian Peninsula and 30 per cent in the US.
To develop its renewable project portfolio, the company has set an investment framework of between EUR 3 billion and EUR 4 billion until 2027.
When it comes to EDF Renewables, at the end of 2023, the company had 21.2 GW of gross installed wind and solar capacity around the world, according to Repsol.
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The Spanish government has set a target of 3 GW of installed offshore wind by 2030 and plans to carry out its first auction in the Canary region this year.
Portugal has a national target to allocate 10 GW of offshore wind capacity by 2030, with 2 GW operational by the same date.