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Microsoft: Repsol to supply renewable electricity

(CercleFinance.com) - Repsol is to supply Microsoft with renewable electricity after reaching an agreement for a total of six long-term Virtual Power Purchase Agreements (VPPAs).


The 12-year supply agreements relate to three wind farms and three solar power plants in Spain with a total installed capacity of 230 MW, which will be operational by December 2025.

This agreement is in addition to existing power purchase agreements that are part of a partnership announced in 2021, now reaching an overall total of 320 MW of installed capacity.

Repsol was the first company in its sector to announce a net zero emissions target by 2050, and is developing its renewable energy business to reach between 9,000 MW and 10,000 MW of installed capacity by 2027. Microsoft has announced that it will source 100% of its energy from renewable sources by 2025.

Repsol will invest between 3 and 4 billion euros net in the development of its project portfolio up to 2027 to achieve its growth targets. Of the 9,000 to 10,000 MW installed, 50% will be in the Iberian Peninsula and 30% in the United States. Repsol plans to expand its presence in Chile and Italy, with a combined installed capacity of 1,500 MW by 2027.

According to João Costeira, executive general manager of low-carbon production at Repsol: ' This agreement with Microsoft, a strategic partner, underlines the importance of renewable energies for the digital revolution in which we are deeply involved, and it also demonstrates Repsol's commitment to decarbonization. '

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