Madrid-based multi-energy companies Repsol and Ørsted have signed an agreement to identify and, where appropriate, jointly develop floating offshore wind projects in Spain. According to Repsol, both companies have ambitions to jointly become the leading developer of floating offshore wind in Spain by combining their respective strengths. The alliance will combine Repsol's experience as a global multi-energy provider with Ørsted's experience as a world leader in offshore wind.

Repsol recently raised its 2030 renewable energy capacity target to 20 GW, a 60% increase from its previous target. The company plans to have 6 GW of installed renewable energy capacity by 2025. In October 2021, Repsol increased its investment in low carbon projects. Between 2021 and 2025, the company will allocate an additional €1 billion for low-carbon projects, increasing the total to €6.5 billion from the €5.5 billion set in the strategic plan approved in November 2020. Additionally, in December 2019, Repsol became the first company in the industry to commit to becoming carbon neutral by 2050.

Repsol is also involved in the development of the first and only floating wind farm off the Iberian Peninsula, the 25 MW Windfloat Atlantic offshore Portugal. “As a partner with Ørsted, a world leader in offshore wind, we will play an important role in the future development of floating technology, which has growth potential off the coast of Spain and thanks to our participation in the Windfloat Atlantic project on the coast of Portugal,” João Costeira, executive director of low carbon power generation at Repsol, said.

Ørsted recently secured the first floating offshore wind lease area off the coast of Scotland. The company has a growing portfolio of onshore wind, solar and renewable hydrogen projects and plans to install 50 GW of renewable energy by 2030. To date, Ørsted has installed about 7.6 GW of offshore wind capacity. The company also recently opened an office in Madrid.

Martin Neubert, Deputy CEO and Chief Commercial Officer of Ørsted Group, said: “We are delighted to join forces with Repsol to explore floating offshore wind development in Spain and reaffirm our commitment to advancing the commercialisation of this technology, which will extend the Offshore wind power coverage can be achieved far offshore and at greater depths." Keywords: engineering construction, engineering news

Repsol said Spain aims to achieve 3 GW of floating offshore wind capacity by 2030, and with decades of experience supplying Spain's huge onshore wind farms, the country's supply chain is well-positioned to enter floating Preparation for offshore wind power.Editor/XingWentao