Banco Sabadell: According to press reports, Repsol has sold Prejeance Industrial (a French company dedicated to self-consumption) 42 MW in COD and 400 MW under development to Altarea for €140 million. On the other hand, the press also reports that the company has commissioned legal advice on the sale of part of its renewables subsidiary, which is being targeted by the Saudi oil company Aramco, to the law firm Freshfields…
Renta 4 : Agreement for the sale of a portfolio of distributed generation assets in France for €140 million. According to press reports, Repsol has reached an agreement to sell a portfolio of distributed generation assets in France to the French company Altarea for €140 million. These assets are part of the projects acquired in 2023 from the Asterion Industrial Partners fund, when it bought a portfolio of 7,700 MW…
Norbolsa | After 25 years of joint business, El Corte Inglés has sold 45% of the service station business (Gespevesa) to Repsol (REP). Thus, Repsol retains 95% of the company and El Corte Ingles keeps a symbolic 5%. In any case, El Corte Ingles will continue to be the reference supplier of the service stations. Gespevesa manages 40 service stations, with a turnover of €60 million, registering a negative result…
Renta 4 | According to press reports, the company is negotiating the merger of its exploration and production business in the North Sea with Neo Energy, creating a business that would reach 130 kboe/d, increasing its production by 90 kboe/d (+15%), which would make it one of the largest producers in the area. In addition, according to other media, Repsol could also be in negotiations to sell a minority stake…
Link Securities | Repsol (REP) will supply renewable electricity to Microsoft after reaching an agreement for a total of six long-term virtual power purchase agreements (VPPAs), the company announced on Tuesday. These 12-year supply agreements are linked to three wind farms and three solar plants in Spain with a total installed capacity of 230 MW that will be operational by December 2025. This transaction is in addition to the existing…
Repsol invested €2.129 billion between January and March. In the 2024-2027 period, the company expects to invest between €16 and €19 billion net, with 60% dedicated to the Iberian Peninsula and more than 35% to low-carbon projects. On February 22, the company presented its Strategic Update 2024-2027, which laid out the priorities and objectives to bolster its profitable growth, consolidate its multi-energy commitment and achieve its decarbonization goals. In the…
The new plant in Cartagena (Murcia), in which €250 million have been invested, has a production capacity of 250,000 tonnes per year, processing some 300,000 tonnes per year of organic waste, such as used cooking oil and food waste, among others. It can produce renewable diesel and sustainable aviation fuels (SAF), which can be used in any means of transport: cars, trucks, buses, ships or planes, taking advantage of existing…
Renta 4| Repsol (REP) is studying an alliance with the CIP fund (Copenhagen Infrastructure Partners) to produce green hydrogen in the Catalina Project promoted by the Danish fund, which contemplates the development of four wind farms and nine photovoltaic farms with a capacity of 1.1 GW and an estimated energy production of almost 3,000 GWh per year to feed a hydrogen plant with an initial capacity of 500 MW to…
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…
Renta 4| The US Energy Information Administration revises its supply and demand and crude oil price estimates for 2024. In its March edition of the Short-Term Energy Outlook, the US Energy Information Administration (EIA) said it expects Brent crude oil prices to average 88 usd/b in the second quarter of 2024, up 4 usd/b from February, estimating Brent crude oil prices to average 87 usd/b in 2024, up from 82.4…