Repsol: collaboration agreement with EDF Renouvelables

(CercleFinance.com) - Spanish oil company Repsol announced Thursday that it has signed an exclusive collaboration agreement with EDF Renouvelables to conduct joint offshore wind projects in Spain and Portugal.


Under the terms of the agreement, the two groups plan to work together on future tenders in the Iberian Peninsula, with the idea of combining Repsol's local market knowledge with EDF Renouvelables' know-how in land-based and floating wind power.

In a press release, Repsol points out that it has earmarked a budget of between three and four billion euros for its renewable energy projects between now and 2027, with the aim of having between 9,000 MW and 10,000 MW of installed capacity by that date, 50% of which in the Iberian Peninsula and 30% in the United States.

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