Hours after Repsol announced it had sold its Canadian fossil holdings for 433m euros, it has announced that it has acquired a renewable company in the US. Oil company reaches deal to buy US renewable energy development group ConnectGen 768 million dollars (approximately 715 million euros) Quantum Capital GroupThis means increasing its international presence and contributing to the target of reaching 20,000 megawatts (MW) of installed capacity by 2030. The transaction is expected to be completed by the end of the year, subject to the usual regulatory approvals.
based Houston (Texas), ConnectGen is a renewable energy developer with a multi-technology approach and internal development capabilities, particularly in onshore wind power projects in the United States. Its portfolio includes 20,000 MW of onshore wind, solar energy and energy storage. different stages of development. This portfolio of projects represents Repsol’s entry into the industry onshore wind energy The United States is one of the largest markets with the greatest growth potential in the world.
Company thereby strengthening its existence a company specializing in project development internationally and in a North American country, after landing in the United States in 2021 by acquiring 40% of Hecate Energy solar photovoltaic and batteries It has a project portfolio of more than 40,000 MW for energy storage.
USA became the target of a major attack collect lines CEO of Repsol, Josu Jon Imaz, For the “stability, simplicity and investment incentives” of the Biden government’s Inflation Reduction Act (IRA). Currently, the oil company has a capacity of 245 MW, operating in this market. loaded capacity 2,000 MW in 2025 and 8,000 MW in 2030.
Imaz, in his statement, stated that the operation of the company ” Markets with the greatest growth potential. “This operation is a step of our determination” transforming our industry “We want to become a net-zero company by 2050 while maintaining our profitable growth, diversification, multi-energy approach and ensuring shareholder returns.” employees Members of ConnectGen, including the lead team, will participate Repsol Renewable Energy.