Press

Repsol has agreed to sell its oil and gas assets in Canada to Peyto for $468 million (approximately €433 million) as part of its ongoing portfolio management to focus activity on core regions.

Repsol posted net income of €1.42 billion in the first six months of 2023 amid falling energy prices and demand, while the company continued to take decisive steps in its transformation and in launching an innovative multi-energy offer for its customers.

The European Investment Bank (EIB) has granted a €575 million loan to support Repsol’s rollout of wind and solar PV plants in Spain with a total capacity of 1.1 GW. The renewable energy facilities will be operational before the end of 2025.

Repsol's Chairman, Antonio Brufau, said today that the energy transition represents an "enormous opportunity" for the company, which is undergoing a transformation based on its human, technological and industrial capabilities to ensure a more profitable and sustainable future. During the Annual General Shareholders' Meeting, he reviewed the key aspects of the energy transition, mainly in Europe, and the path towards zero net emissions by 2050.

Repsol Ibereólica Renovables Chile, a company owned 50% each by Repsol and the Ibereólica Renovables Group, has started producing electricity into the grid from its first joint solar project in the Andean country with the start-up of the first phase of the Elena photovoltaic plant, which will have a total installed capacity of up to 596 MW.

Repsol will develop renewable projects in Italy totaling 1,768 MW. It has a portfolio in the country that, once fully operational, will add 943 MW of wind and 825 MW of photovoltaic solar projects to the multi-energy company's portfolio of renewable projects.