We have defined five lines of action that we integrate into our strategy:
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Climate change
Climate change
We are the first energy company to take on the challenge of net zero emissions by 2050
We are the first energy company to take on the challenge of net zero emissions by 2050
We are committed to accessible, affordable and low-carbon energy. Besides, we are convinced that only by addressing the major challenges we face can we turn them into opportunities.
More ambitious climate change goals
More ambitious climate change goals
Intermediate decarbonization targets for 2025, 2030, and 2040 in order to reach neto zero emissions by 2050.
An increase to 7,500 MW of low-carbon electric capacity by 2025
We are expanding into other markets to become a relevant international player in renewable energies.
Target 2025: reduce methane emissions intensity by 85% compared to 2017, and flaring by 50% compared to 2018.
Adavancing with the sector towards emissions reduction
We share society's concern about the effects human activity is having on the environment. Therefore, we work every day to fight against climate change by actively joining international associations and initiatives in the energy industry aimed at implementing sustainability principles.
- We launched a sustainable financing framework to accompany our energy transition process. We are the first company in its sector worldwide to present a framework that incorporates both instruments aimed at financing specific projects (green and transition) and those linked to the company’s sustainability commitments (Sustainability-Linked Bonds). This approach offers flexibility and transparency in the issuance of financial instruments.
See press release >
- Along with seven of the sector's leading companies, we developed six principles as a collaboration commitment to the energy transition. These principle support the collective acceleration of the industry to contribute to the Paris Agreement and make progress in emissions reduction, among others.
Learn about the principles |PDF| 246 KB >
- We joined a great partnership called OGCI (Oil & Gas Climate Initiative). This voluntary, industry-led initiative is headed by CEOs from the 13 of the world’s major energy companies who want to lead the sector's response to the threat of climate change.
Read the open letter from the CEOs of the Oil and Gas Climate Initiative >
Second report on our participation in industry associations and initiatives
Second report on our participation in industry associations and initiatives
As part of our steadfast commitment to the fight against climate change and the decarbonization of the economy, in July 2021 we published the second internal analysis to ensure that all the associations and initiatives in which we participate are aligned with the fulfillment of the goals set out in the Paris Agreement, as well as Repsol’s climate change strategy and policies.
Towards a low-emissions energy model
We share society's concern about the effects of human activity on the climate, which is why we are firmly committed to an energy transition by promoting renewable energy projects.
- Solar energy
- Wind energy
- Hydropower
- Offshore wind energy
Photovoltaic power plants
Photovoltaic power plants
Sigma (Cádiz), Kappa (Ciudad Real), and Valdesolar (Badajoz) are our three projects which are located in highly favorable areas for producing this type of energy, with enough combined output to supply more than 860,000 homes.
Overall, the three projects amount to an investment of €600 million and will have a combined output of nearly 800 MW in 2021.
Wind projects
Wind projects
We have three wind energy projects in Spain: The Delta Project with a capacity of 335 MW located between the Zaragoza and Teruel ; Delta 2, consisting of 26 wind farms located between the Huesca, Zaragoza, and Teruel provinces; and PI with a total installed capacity of 175 MW between Palencia and Valladolid.
Hydropower plants
Hydropower plants
We have 12 hydropower plants in northern Spain with an installed capacity of 700 MW. We also have two combined gas cycle plants in Algeciras, Cádiz and Escatrón, Zaragoza with a combined output of 1,650 MW.
Floating wind farm
Floating wind farm
The WindFloat Atlantic project is the first floating wind farm in continental Europe that has an expected capacity of up to 25 MW. We developed this project in conjunction with EDP, and the first platform has been in operation since January 2020.
Investing in projects and technologies focused on energy transition
