REPYY - Repsol to develop 1.7 GW of renewable energy projects in Italy

2023-05-17 09:45:44 ET

Repsol ( OTCQX:REPYF ) ( OTCQX:REPYY ) unveiled plans Wednesday to develop more than 1.7 GW of renewable energy projects in Italy, including 943 MW of wind projects and 825 MW of photovoltaic solar projects.

The company said it expects to start construction of its first two photovoltaic solar plants, with a capacity of 11 MW, later this year and early next year in the Puglia region in southern Italy and most of the portfolio becoming operational from 2025.

"Italy is one of the countries where Repsol has focused its international expansion as it offers great potential to strengthen the company's position in markets that are key in Europe," the company said.

Repsol's ( OTCQX:REPYF ) ( OTCQX:REPYY ) 2021-25 strategic plan targets 6 GW of installed renewable generation capacity by 2025 and 20 GW 2030.

The company's head of renewables Joao Costeira told Reuters the company's Italian projects would cost ~€500M .

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