By Pietro Lombardi MADRID, Feb 20 (Reuters) - Spanish energy group Repsol has lowered its 2030 targets for renewable capacity and low-carbon products as it adapts to evolving market conditions, a
Spain's Repsol trims 2030 renewables goal, lowers low‑carbon plans
By Pietro Lombardi
Repsol’s Revised 2030 Energy Strategy
MADRID, Feb 20 (Reuters) - Spanish energy group Repsol has lowered its 2030 targets for renewable capacity and low-carbon products as it adapts to evolving market conditions, a report released as part of its 2025 results shows.
Since 2018, the company has built up a portfolio of wind, solar and hydroelectric projects in Spain and abroad within its broader strategy of transitioning from a traditional oil and gas company to a multi-energy player. It has also been investing in the production of green hydrogen and low-carbon fuels.
New renewables target: >10 GW by 2030
It now targets more than 10 gigawatts (GW) of installed renewable capacity by 2030, mostly in Spain and in the United States, the report says.
Previous plan: 20 GW by 2030
By comparison, in 2021 it had planned to reach twice that capacity by 2030, or 20 GW.
Rationale: costs and U.S. incentives
"Growth in the coming years has been adjusted to the evolution of the environment, marked by higher development and financing costs, as well as tax incentives in the United States, prioritising investments based on the profitability thresholds set by Repsol," the report adds.
Installed capacity end‑2025: 5.8 GW
At the end of 2025, Repsol had an installed capacity of 5.8 GW.
Low‑carbon fuel goals reduced
Repsol also reduced its targets for low-carbon fuels, "in response to prevailing demand and regulatory trends, especially in relation to renewable hydrogen."
Biofuels: 1.6–1.8 million tons
It now expects to reach a production capacity of between 1.6 and 1.8 million tons of biofuels and between 0.7–0.8 TWh of
Biomethane: 0.7–0.8 TWh
biomethane. The previous targets were 2.4 to 2.7 million tons and 2.1 to 2.3 TWh.
Green hydrogen targets already cut
It had already slashed targets for green hydrogen due to delays in the development of the market and the regulatory framework.
CEO guidance on decarbonisation pathway
A Repsol spokesperson pointed to comments from Chief Executive Josu Jon Imaz on Thursday.
Medium‑term modulation, long‑term intact
"Regarding our decarbonisation pathway, having delivered on the short-term commitments set for 2025, we will modulate medium-term goals while keeping long-term objectives according to the current regulatory and business framework," he said.
(Reporting by Pietro Lombardi; Editing by David Holmes)
