Transitioning European energy company Repsol has started the construction of its first solar farm, Kappa, in the Ciudad Real region of Spain, as part of a €600m ($650m) multi-project investment in renewables plant in the country.

Along with 126MW Kappa project, being built at a cost of €100m, Repsol is also developing the 335MW Delta wind farm and the 264MW Valdesolar PV development, all of which will operated by subsidiary Repsol Electricidad y Gas.

Once online next year, Kappa, made up of the three separate smaller solar plants, will supply electricity to over 180,000 people. Delta is under construction and Valdesolar will start building “in the coming weeks”.

Madrid-headquartered Repsol set out plans in December to become a “leading international player in renewable energies” as it became the first global oil & gas group to adopt a 2050 net-zero emissions target, sanctioning renewable investments that will take it total clean-energy portfolio to 5.6GW.

“This is another step forward in our long-term commitment to sustainability and becoming a net zero-emissions company by 2050,” a Repsol spokesperson told Recharge. “An important part of this objective is building a strong position in low-carbon businesses.”

Repsol has another four renewables projects underway – two wind, one solar, and one floating wind – which together total a combined capacity of over 2GW.

“With the company’s current total installed capacity of 2,952 MW, [this] consolidates Repsol’s position as a leading player in the generation of low-emissions electricity on the Iberian Peninsula,” said the company.

Repsol’s strategy of becoming a net zero emissions company will see it develop 400-500MW of new renewables projects per year, the Spanish giant annouced in February, as it booked a nearly €4.85bn impairment on production assets, which it said was “consistent with the Paris Agreement’s climate goals”.

Transition

Transitioning oil major Repsol breaks ground on flagship PV plant in Spain