Repsol set to build 1.8 GW of green energy in Italy
ROME, May 17, 2023 – Repsol has confirmed plans to develop 1.8 GW of renewable energy projects in Italy at the cost of around USD 550 million, Reuters reported on Wednesday.
The Spanish energy giant intends to build 942 MW of wind power and 825 MW of solar power in Italy.
Construction is expected to begin in 2023 and early 2024, with most of the projects operational by 2025.
Repsol has set targets to grow the capacity of its global renewables portfolio from its current 2 GW to 6 GW by 2025 and 20 GW by 2030.
“We have also seen an increase in the price of energy, we have seen an increase in the price of green certificates, and we are already seeing stabilisation in the cost of some of the components,” said João Costeira, executive managing director of low carbon generation of Repsol.
“We believe there may be a transitory year, but in the medium term we feel very comfortable with our target.”