Repsol has announced the completion of its largest solar plant in the United States, marking a significant milestone in the company's commitment to renewable energy and its goal of becoming a net-zero emissions company by 2050.
Located in Kress, Texas, the Frye Solar plant has an installed capacity of 637MW, with 570MW currently in operation. The array comprises almost one million solar panels, making it a substantial addition to Repsol's renewable energy portfolio.
Repsol has already secured a long-term power purchase agreement for 89% of the output from the Frye Solar plant, as part of its strategy to ensure stable returns for this type of asset.
Federico Toro, Repsol's chief operating officer for low carbon generation in North America, expressed the company's enthusiasm for this achievement, stating, “Repsol views completion of our largest U.S. renewable facility to date as a major milestone that will contribute to our commitment to become a net zero emissions company by 2050. Our growth ambition in this country is significant.”
Repsol's total renewable installed and under development capacity in Texas now stands at 2091MW, including the facilities at Frye (637MW), Outpost (629MW), and Pinnington (825MW). Additionally, the company generates renewable electricity at its existing solar power plants in New Mexico, Jicarilla 1 and 2, with a total installed capacity of 125MW and 20MW of battery storage.
Renewable energy generation is a key component of Repsol's decarbonization strategy, aligning with its commitment to sustainability and reducing carbon emissions.
According to Repsol's Strategic Update, the company plans to invest between €3 billion and €4 billion to organically develop its global portfolio and aims to achieve between 9000MW and 10,000MW of installed capacity by 2027. In the United States, 30% of this capacity will be consolidated through the Hecate and ConnectGen project pipeline, solidifying Repsol's position as a major player in the U.S. renewable energy market.
