Repsol S.A.
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Repsol SA is a Spanish multinational oil and gas company that operates in the Integrated Oils sector. The company was founded in 1987 and is headquartered in Madrid, Spain. Repsol is present in over 30 countries and has a workforce of approximately 25,000 employees. The company is listed on the Madrid Stock Exchange and is a constituent of the IBEX 35 index.
Repsol is committed to decarbonisation and has set ambitious targets to reduce its carbon footprint. The company aims to achieve net-zero emissions by 2050, in line with the Paris Agreement's goals. Repsol has also committed to reducing its carbon intensity by 10% by 2025 and 20% by 2030. To achieve these targets, Repsol is investing in renewable energy and low-carbon technologies.
Repsol's corporate energy division is responsible for managing the company's energy supply and demand. The division is focused on increasing the use of renewable energy and reducing the company's carbon footprint. Repsol has set a target to generate 7.5 GW of renewable energy by 2025, which will represent 20% of the company's total installed capacity. The company is investing in wind and solar power projects in Spain and other countries.
Repsol is also actively pursuing corporate power purchase agreements (PPAs) to support its renewable energy goals. In 2020, the company signed a PPA with Grupo Ibereolica Renovables for the supply of 1.6 TWh of renewable energy over ten years. The agreement will allow Repsol to reduce its carbon emissions by approximately 1 million tonnes per year.
In addition to renewable energy, Repsol is investing in low-carbon technologies such as carbon capture, utilization, and storage (CCUS). The company is developing a CCUS project in northern Spain, which aims to capture and store up to 1.3 million tonnes of CO2 per year. The project is expected to be operational by 2024.
Repsol's commitment to decarbonisation is also reflected in its business strategy. The company is divesting from high-carbon assets such as oil sands and is focusing on low-carbon businesses such as renewable energy and electric mobility. In 2020, Repsol announced that it would invest €18.3 billion in low-carbon businesses over the next five years.
Repsol's renewable energy business is focused on wind and solar power. The company has a portfolio of wind and solar projects in Spain, Chile, and Peru. In 2020, Repsol acquired a 40% stake in the Delta II wind farm in Spain, which has a capacity of 100 MW. The company also acquired a 100 MW solar project in Spain, which is expected to be operational in 2022.
Repsol is also investing in electric mobility. The company has a network of electric vehicle (EV) charging stations in Spain and is expanding its network in other countries. Repsol is also developing EV charging solutions for homes and businesses.
In conclusion, Repsol SA is a Spanish multinational oil and gas company that operates in the Integrated Oils sector. The company is committed to decarbonisation and has set ambitious targets to reduce its carbon footprint. Repsol is investing in renewable energy, low-carbon technologies, and electric mobility to achieve its goals. The company's corporate energy division is focused on increasing the use of renewable energy and reducing the company's carbon footprint. Repsol's commitment to decarbonisation is reflected in its business strategy, which includes divesting from high-carbon assets and investing in low-carbon businesses.