Repsol To Build A 500 MW Solar Plant In The US With Investment Of Over 500 M$

agrees on sale of its 20.07 % stake at €19/share

Repsol (REP) has just submitted, via Hecatte Energy, an application to the New York State Office of Renewable Energy Siting to build a 500 MW solar plant in the towns of Elba and Oakfield.

The plant will involve an investment of over $500 million and is expected to create more than 500 jobs during construction. It is capable of supplying 920,000 MWh of renewable electricity annually. This will be enough to power over 120,000 New York homes on average with clean energy capable of offsetting more than 420,000 tons of C02 per year. This is equivalent to taking over 92,000 cars off the road per year.

Chicago-based Hecate Energy has a portfolio of projects totalling more than 40 GW. Of these, 16.8 GW correspond to photovoltaic projects and storage associated with these assets, which are at an advanced stage of development, and 4.3 GW belong to a battery platform for energy storage, called Hecate Grid. Analysts recall that Repsol aims to reach a generation capacity of 7.5 GW in 2025 and 15 GW in 2030.

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