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    Repsol expands its clean energy investment plan by 1 billion euros


    October 5, 2021 - CE Noticias Financieras

     

      Repsol has decided to increase by 1,000 million euros its investment plans until 2025 to strengthen its growth in low-carbon technologies. In this way, the oil company extends its investment plan until 2025 from the current 18,300 million to 19,300 million euros.

      The oil company presented today at Low Carbon Day its plans to increase its presence in renewable energies. The company aims to reach 6 GW in 2025, which is 15% more than initially planned, and 20 GW in 2030, which is a jump of 60% over the first forecast.

      The company's decarbonisation plans also include the installation of 1,000 charging points for electric vehicles, reaching 8 million digital customers (through Waylet and Vivid) and creating 180 energy communities.

      The company has also drawn up a roadmap with new decarbonisation targets. By 2025 it increases from 10 percent to 12 percent. By 2030 the new target will be 25 percent compared to the previous 20 percent, and by 2040 the oil company aims to have halved all its emissions compared to the 40 percent it initially estimated. The goal of reaching zero emissions remains for the year 2050.

      Repsol also raises its green hydrogen development plans from 0.4 GWeq to 0.55 GWeq in 2025 and from 1.2 GWeq to 1.9 GWeq in 2030.

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