Repsol and EDF sign pact for joint offshore wind bids
Oil firm brings knowledge of Iberian market to cooperation while French utility has ten years of experience in fixed-foundation and floating wind
Spanish oil firm Repsol and the renewables unit of French power giant EDF have signed an exclusivity agreement to cooperate in future offshore wind tenders in the Iberian Peninsula, which they said offers significant growth opportunities.
The cooperation brings together Repsol's knowledge of the Spanish and Portuguese markets and EDF Renewables' expertise in both fixed and floating offshore wind, and will support Spain and Portugal’s objectives in renewables, Repsol said.
"This alliance between Repsol and EDF Renewables, two of the most significant energy companies in Europe, highlights the interest in the sector to explore renewable energy generation opportunities that offshore wind will provide in Spain and Portugal, once the regulatory framework in both countries is defined," said João Costeira, executive managing director of low carbon generation at Repsol.
EDF Renewables CEO Béatrice Buffon added: "Repsol and EDF Renewables will combine their respective expertise to cooperate in future offshore wind tenders in Spain and Portugal, an important step in our development in Europe."
The Spanish oil company until 2027 has plans to invest between €3bn ($3.3bn) and €4bn net to develop its renewables portfolio. Repsol said it "expects" to have 9-10GW installed by that year, of which 50% will be in the Iberian Peninsula and 30% in the United States.
EDF Renewables already had a gross installed wind and solar capacity of 21.2GW worldwide at the end of last year.
The company already has more than 10 years of experience in offshore wind power in Europe, and is also one of the pioneers of floating offshore wind technology.
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