Repsol takes renewables drive beyond Iberia with Chile joint venture
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The tie-up with Grupo Ibereolica Renovables will be Repsol’s first renewable energy project outside Spain and Portugal
MADRID: Spain’s Repsol has signed up to create a joint venture with a Spanish renewable energy group to run a portfolio of wind and solar generation sites in Chile, the oil and gas company said in a statement on Thursday.
The tie-up with Grupo Ibereolica Renovables will be Repsol’s first renewable energy project outside Spain and Portugal, and will run more than 1.6 GW of capacity by 2025, with another 1 GW planned for 2030.
Repsol will invest 168 million euros ($194.7 million) for a 50% stake in the venture, which takes it a step further to meeting a targeted 7.5 GW renewable generation capacity by 2025.
($1 = 0.8629 euros)
Source: reuters
