Repsol has raised its renewable energy target to 6GW by 2025 and 20GW by 2030 as part of a wider strategy update on its path to become a zero emissions energy company by mid-century.

The Spanish oil & gas firm previously had aimed for 5.2GW of renewables by 2025 and 12.7GW by 2030.

“The upgrade of our targets demonstrates the solid progress the company is making towards becoming carbon neutral by 2050," chief executive Josu Jon Imaz told analysts and investors.