Renta 4 | Repsol has 2.000 Mw of renewable projects under construction, of which approximately 59% are located in Spain, 35% in the US and 6% in Chile. The company wants to hike its renewable energy generation to 7.500 Mw to 2025.
The Spanish oil and gas firm is developing a new photovoltaic energy plant in Villena, with an installed capacity of 300 Mw. Whatsmore, the company is continuing to advance with the construction and development of the Delta II farm in Aragon, which has two phases. The first one, a construction of 253 Mw and a second one in development with 612 Mw and strong visibility.
Valuation: Neutral impact. The company is continuing to make strides towards completing its strategic plan, raising visibility around its goal of 7.500 Mw to 2025. That said, it will have to speed up to obtain the objectives which have been established. Finally, we will need to be attentive to possible corporate operations to boost the Low Carbon area.
We reiterate our OVERWEIGHT stance with a T.P. of 18,9 euros/share.
