Repsol and EDF Renewables have signed an exclusivity agreement to coorporate in offshore wind tenders across Spain and Portugal.
Spanish oil major Repsol will put €3-€4 billion net towards renewable energy projects, hoping to install 9-10GW by 2027. Half of these projects will be in the Iberian Peninsula and 30% will be in the US, the company said.
EDF Renewables is the renwables arm of French state-owned nuclear giant EDF, with 21.2 GW of installed wind and solar capacity to date.
Repsol said that this collaboration highlights its “commitment to multi-energy growth” and “EDF Renewables’ expertise and experience in offshore wind, whether fixed or floating.”
Portugal is expected to announce details for its first offshore tender this summer. Spain mapped out areas for offshore wind development last years but has not launched any tenders so far.
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