IBEX

Repsol’s Will Invest €18.3 Bn Between 2021-25, Of Which 30% Will Go To Decarbonisation

Last week Repsol unveiled its strategic plan for the period 2021-25. The company will decarbonize its asset base and implement a new operating model with new pillars such as the Customer and Low-Carbon Generation Businesses. Furthermore, Repsol aims to substantially increase EBITDA, to more than €8.2 Bn in 2025. The strategic plan will have two differentiated periods. In the first two years, it will focus on ensuring financial strength. From 2022, the point will shift to the acceleration of growth.

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Iberdrola will build its next wind farm in Spain, the Herrera Complex, with the most powerful onshore wind turbine, after awarding Siemens Gamesa the contract to supply the first SG 4.5-145 wind turbines, with a 4.5 MW power unit; which is almost seven times more powerful than the first wind turbines installed in Spain more than two decades ago.

Iberdrola Launches €75 Bn Investment Plan To 2025 As A Commitment To Economic Recovery

90% of this investment volume – €68 Bn – will be organic and will be aimed at consolidating its business model, based on more renewable energy, more networks, more storage and more intelligent solutions for its customers. The rest, €7 Bn, corresponds to the recently announced acquisition of American company PNM Resources. This unprecedented rate of expenditure will represent an average investment of €10 Bn per year between 2020 and 2022, and €13 Bn per year in the period 2023-2025.