New energy solutions
We lead the development of pioneering energies and solutions for sustainable mobility, by researching, developing, and producing biofuels, and through our investments in the electric mobility and shared mobility sectors.
We are positioning ourselves in the new, low-emission energy market with renewable energies and natural gas combined cycles.
At Repsol, we began incorporating biofuels into our vehicle gasolines and diesels for over 20 years. In Spain, on average 6% of the energy content of our gasolines and diesels is biofuel, and by 2020 this figure will increase to 8.5% in line with EU regulatory requirements.
Preliminary results with one of the enzymes under study open the door to the biological synthesis of a whole family of compounds that, until now, could not be produced biologically. Biological processes usually occur in less extreme reaction conditions and produce fewer secondary products or waste. That’s why they often have less environmental impact. They can also be produced from renewable raw materials .
Internal combustion engines still have great potential for improvement through technological development, estimated at 30% in 2030 as compared to current engines. At the same time, diesels and gasolines must be adapted to the requirements of new engines.
Our refineries, positioned in the first quartile in competitiveness and efficiency in Europe, are prepared to adapt themselves to these changes. Well aware of our key role in the development of the mobility of the future, we've implemented different lines of action which will allow us to be part of the solution to sustainable mobility that contributes in the fight against climate change:
Our commitment includes the entire process, from generation of renewable electricity to vehicle recharge in accordance with the customer's needs and the evolution of all the vehicles on the road. We participate in the largest charging station network in Spain with over 1,700 charging points. In April 2019 we opened our first ultra-fast recharge point on the Iberian Peninsula at a service station in Lopidana, Álava.
The Company's strategy is to move towards a future of low emissions. The goal is to make progress in the energy transition and reduce the emissions of Repsol operations and products, in line with the Company's commitment to fight climate change in accordance with the ambition set forth in the Paris Agreement. We have committed ourselves to investing €2.5 billion during the 2018-2020 period in renewable energies, combined cycles, and other low-emissions technologies, with the aim of reaching 4.5 GW installed capacity in 2025.
The incorporation of Viesgo’s assets brings us three hydroelectric power plants located in northern Spain, with an installed capacity of 700 MW. Thanks to this, we have become an important player on the Spanish electricity market, with a total installed capacity of 2,952 MW (2,352 from the hydroelectric and combined cycle facilities acquired from Viesgo, and over 600 MW from our cogeneration plants.), a more than 2% share of the retail electricity and gas market in Spain, and an 800,000-strong customer portfolio.
In addition, we have expanded our presence in the renewables sector through the Valdesolar Hive project, which is developing one of the largest solar energy farms in Spain in Valdecaballeros (Badajoz) .
These actions help reduce our carbon intensity and contribute toward the 2025 objectives set in the update to our Strategic Plan, managing climate change risks while, at the same time, seizing opportunities.
We also hold stakes in the company Principle Power Inc. (PPI), technology and service provider for the deepwater offshore wind energy market. One of its floating prototypes, located in Portuguese waters, generated 1,700 MWh between December 2011 and July 2016. This technology is already being developed on the commercial scale through the Windfloat Atlantic project (with three 8 MW-turbines) that we are carrying out alongside our partners EDP Renovables and Engie. It is expected to be operational in December 2019.