One of the largest energy companies, present in the entire value chain: exploration and production, transformation, development and commercialization of efficient, sustainable and competitive energy.
We are a multi-energy company operating around the globe. Our activities range from oil and gas exploration and production to refining as well as selling derived products and providing services for your everyday life, such as natural gas and electricity.
The people on our team represent our prime competitive advantage and guarantee the company's future. A flexible and committed team comprising over 25,000 employees, united by a shared vision and values.
Our facilities are a reflection of our values and company culture. Our smart buildings promote smooth communication and transparency between team members, while allowing them to be more efficient and versatile in their work.
Our brand reflects our efficient, modern, responsible, and transparent management style which characterizes our company. Moreover, it conveys our values and builds trust.
A global, integrated company with over 90 years of history seeking to supply society's energy needs.
At Repsol, we ensure integrity in the relationships the Company maintains with its suppliers and contractors. Our suppliers are a part of our team and working together enables us to continuously evolve.
We look for energy solutions that meet people's needs and safeguard their well-being. With our solid and diversified business undertakings, we stay one step ahead of the future.
Learn about our Company's annual performance in the area of sustainability.
Our priority is to minimize the environmental impact of our activities by optimizing water management, air emissions, waste management, and spill prevention and response, in addition to considering biodiversity a key element.
We work to be part of the solution to climate change. Our challenge: responding to the demand for energy both responsibly and sustainably.
Each and every one of our decisions aims to guarantee the safety of our workers, customers, users, and suppliers. We firmly believe that all accidents can be prevented, and we develop ever-improving prevention mechanisms.
Each and every one of the actions taken by the people who make up Repsol determine the present and the future of our company. Therefore, we train our employees in core values that must govern their behavior and communicate all of our actions in a way that's reliable, transparent, and verifiable.
We are committed to managing our tax affairs by applying good practices and acting transparently. We pay our taxes responsibly and efficiently, and we foster cooperation with governments, thus avoiding serious risks and unnecessary conflicts.
We make reasonable efforts to ensure that our activities do not have negative impact on human rights, and should they occur, we do everything we can to correct them. Moreover, we do everything within our power to prevent impacts directly related to the activities of our business relationships.
Sustainability is an essential part of our forward-looking vision and the shared commitment undertaken by every one of us at Repsol.
The Repsol Technology Lab is an example of one of the most cutting-edge private R&D models in Spain, based on open innovation, whose objective is to seek sustainable solutions to achieve a more efficient and competitive lower-carbon business.
Innovation is in our DNA. That's why we've taken on the ambitious challenge of transforming the energy sector through the passion of our professionals, people who question things to make them better.
We look for industrial startups that provide disruptive reliability and maintenance solutions, particularly those related to the prediction and detection of corrosion.
Innovation, open collaboration, and a connection with the entrepreneurial world within an environment designed for co-creation. Discover our Open Innovation program.
At Repsol, innovation is part of our DNA. That's why we support education in the technical science field in order to inspire future generations.
Soluciones energéticas 100% renovables: energía solar y electricidad para particulares, empresas y entidades públicas.
Global, integrated, sustainable, and present throughout the entire value chain. These are just some of the compelling attributes that make us as an attractive company.
Useful documents to follow the company's profitability and sustainability-related measures and initiatives.
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Repsol has begun construction of Delta II, the company's largest renewable project to date. Once completed, it will have a total capacity of 860 MW distributed over 26 wind farms located in the region of Aragon in northeastern Spain.
In the first construction stage, Repsol has begun work on two wind farms, La Cometa I and La Cometa II. These two wind farms, with a combined capacity of 60 MW, are scheduled to come into operation in the first quarter of 2022. They will have 4 and 12 wind turbines, respectively. Repsol also plans to begin work on three other wind farms in this large wind project this year.
Delta II is expected to be completed in 2023 and, at that time, it will supply electricity to around 800,000 homes. The renewable electricity generated will avoid the emission of more than 2.6 million tons of CO2 per year. Its development and start-up will provide a significant boost to the socioeconomic dynamism of the region.
In addition to Delta II, Repsol has the Delta wind project in Spain, also in Aragon, which has been fully operational since last March and has 89 wind turbines with an installed capacity of 335 MW distributed among eight wind farms. Construction of the Pi wind project, located between Palencia and Valladolid, with a total installed capacity of 175 MW, is expected to start this year.
Repsol is also developing three other photovoltaic projects in Spain: Valdesolar, whose construction began in July 2020 in the municipality of Valdecaballeros (Badajoz) and which will have a total installed capacity of 264 MW; Kappa, with three independent photovoltaic plants located in the municipality of Manzanares (Ciudad Real) with a total installed capacity of 126 MW; and Sigma, with 204 MW, in the province of Cadiz.
As an operator, Repsol began the international expansion of its renewable business in 2020 with the signing of a joint venture with Grupo Ibereólica Renovables that gives it access to a joint portfolio of assets in Chile in operation, construction or advanced development of more than 1,600 MW until 2025 and with the possibility of exceeding 2,600 MW in 2030.
In January of this year, both companies made progress in the construction of their first joint wind farm in the South American country, Cabo Leones III, with a capacity of 189 MW, with the shipment from the port of Bilbao of the main technological components of its wind turbines and with the entry into commercial operation of the first phase of the project. In addition, Repsol Ibereólica Renovables Chile recently finalized a PPA for another project in the country, the 180 MW Atacama wind farm.
During the presentation of its 2021-2025 Strategic Plan in November 2020, Repsol advanced its goal of being a multi-energy company with zero net emissions by 2050. A goal that will be achieved through a demanding roadmap with which it plans to reach 7,500 MW of low-emission generation by 2025 and double that figure by 2030.
Repsol currently has almost 3,300 MW of total installed low-emission generation capacity. By the end of the year, the company expects to have an additional 710 MW of capacity in operation or at an advanced stage of construction.
The investments foreseen in the 2021-2025 Strategic Plan amount to 18.3 billion euros. Of that, 30% - 5.5 billion euros - will be allocated to low-carbon initiatives. In line with this strategy, 40% of company spend-ing in the first quarter of 2021 was allocated to low-carbon projects.