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Repsol and EDF Renewables to work together on offshore wind off Iberian Peninsula coast

Repsol and EDF Renewables have reached an exclusive agreement to join forces for future offshore wind tenders in Spain and Portugal, given that the Iberian Peninsula offers significant growth opportunities, the two companies said in a statement on Thursday. REP has stressed that renewable generation projects are one of the strategic pillars of the company’s energy transition process. To develop its portfolio of renewable projects, the company has set an…

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Repsol has capacity to deliver high capital distribution and better dividend growth than competition

Morgan Stanley| According to Repsol’s (REP) strategy plan for 2024-27, analysts not only see the company’s willingness to deliver a high capital distribution and dividend growth “better than the competition”, but also the ability to do so. In this regard, they expect Repsol to generate an average FCF (post minority dividends) of €2.3bn per year, to be channelled into distributions, assuming an average value of €2.1-2.2bn over 2024-27e. In the…