Repsol is now producing electricity at Antofagasta Phase 1, its largest wind farm to date and one of the largest in Chile. Located in the Taltal commune, in the Antofagasta region, it has a total installed capacity of 364 MW. Construction of Phase 2, with a capacity of 450 MW, will begin shortly, the energy company reports. With an investment of nearly €400 million, Antofagasta Phase 1, which will become…
Banc Sabadell | Repsol (REP) will sell a part (49% stake) of a solar (300 MW) and wind (400 MW) portfolio in Spain that will come on stream in 2025 with a combined capacity of 706 MW, according to press reports. The valuation is estimated at over €900 million. Assessment: Positive news with little impact (3.8% capitalisation/8% NFD’24) if confirmed as more asset rotation was expected by 2025. We recall…
Renta 4 | Repsol has reached an agreement to consolidate its upstream oil business in the UK with NEO Energy Group Limited, a leading independent oil and gas operator in the UK. The agreement will be structured through a share swap in which Repsol will have a 45% stake in the joint venture and NEO UK a 55% stake, reflecting the contribution and strategic alignment of both groups, with a…
Repsol has partnered with Schroders Greencoat, a manager specialized in renewable infrastructure from Schroders Capital, which enters as a partner with a 49% stake in a wind and solar portfolio of 400 megawatts (MW), valued at €580 million. The portfolio includes eight wind farms, totaling 300 MW, located in Huesca, Zaragoza, and Teruel. Additionally, it encompasses two photovoltaic plants totaling 100 MW in Palencia. All assets are expected to be…
Banco Sabadell | Donald Trump has announced the imposition of a 25% tariff on all imports from countries that buy oil or gas from Venezuela. This measure would come into force on 2 April 2025. Among the potentially affected nations are Spain, China and India. Although these could be additional tariffs to those already announced, the details of their implementation are ambiguous. The Trump Administration will offer more details in…
Banco Sabadell | According to press reports, the US has withdrawn Chevron’s licence to export crude oil from Venezuela, with the effective date of 3 April. This decision is in response to the failure of the Maduro government to fulfil its electoral commitments and is part of a package of extended sanctions that will also affect companies such as Halliburton, Schlumberger, Barker Hughes and Weatherford, which will have to suspend…
Renta 4 | Repsol has reached an agreement to acquire 40% of Unioil, a Philippine lubricant manufacturer. This acquisition will allow it to strengthen its presence in the Philippines and Southeast Asia and add a fifth manufacturing plant to those already existing in Spain, Mexico, Singapore and Indonesia. At the end of 2024, Unioil had a total production capacity of 25,000 tonnes. Assessment: Qualitatively positive news, which is in line…
Repsol reported a net income of €1.756 billion in 2024, 45% less than the previous year. Adjusted income amounted to €3.327 billion, 34% lower than in 2023. The 2024 earnings were influenced by a complex geopolitical context; lower crude oil, gas, and electricity prices; moderate margins in refining; and low margins in chemistry. In this scenario, the performance of the company allowed it to improve shareholder remuneration and maintain an…
Link Securities | Repsol’s Board of Directors on Wednesday gave the green light for investment in the Ecoplanta, a pioneering project in Europe to transform urban waste into renewable fuels and circular products, becoming a solution for reducing CO2 emissions in transport, while at the same time promoting the circular economy. The facility, which will be located in Tarragona and in which more than 800 million euros is expected to…
Renta 4 | According to press reports, Repsol is preparing a new leap in its diversification process, with the entry into the data centre business with a project of just over 400 MW. The plan is to be developed in Escatrón, Zaragoza, where it will take advantage of the land, electrical installations and water supply it currently has in the area, which now houses a combined cycle power plant it…