Finance
Spain's Repsol Cuts Renewable Energy Targets
Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: April 3, 2026
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Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: April 3, 2026
Add as preferred source on GoogleRepsol cut its 2030 renewables goal to just over 10 GW, down from 20 GW, and lowered biofuel and biomethane targets amid cost and regulatory pressures. It will prioritize profitable projects in Spain and the U.S.
By Pietro Lombardi
MADRID, Feb 20 (Reuters) - Spanish energy group Repsol has lowered its 2030 targets for renewable capacity and low-carbon products as it adapts to evolving market conditions, a report released as part of its 2025 results shows.
Since 2018, the company has built up a portfolio of wind, solar and hydroelectric projects in Spain and abroad within its broader strategy of transitioning from a traditional oil and gas company to a multi-energy player. It has also been investing in the production of green hydrogen and low-carbon fuels.
It now targets more than 10 gigawatts (GW) of installed renewable capacity by 2030, mostly in Spain and in the United States, the report says.
By comparison, in 2021 it had planned to reach twice that capacity by 2030, or 20 GW.
"Growth in the coming years has been adjusted to the evolution of the environment, marked by higher development and financing costs, as well as tax incentives in the United States, prioritising investments based on the profitability thresholds set by Repsol," the report adds.
At the end of 2025, Repsol had an installed capacity of 5.8 GW.
Repsol also reduced its targets for low-carbon fuels, "in response to prevailing demand and regulatory trends, especially in relation to renewable hydrogen."
It now expects to reach a production capacity of between 1.6 and 1.8 million tons of biofuels and between 0.7–0.8 TWh of
biomethane. The previous targets were 2.4 to 2.7 million tons and 2.1 to 2.3 TWh.
It had already slashed targets for green hydrogen due to delays in the development of the market and the regulatory framework.
A Repsol spokesperson pointed to comments from Chief Executive Josu Jon Imaz on Thursday.
"Regarding our decarbonisation pathway, having delivered on the short-term commitments set for 2025, we will modulate medium-term goals while keeping long-term objectives according to the current regulatory and business framework," he said.
(Reporting by Pietro Lombardi; Editing by David Holmes)
Repsol has reduced its 2030 renewable energy and low‑carbon fuel targets, citing changing market conditions. The company will emphasize profitability while advancing its long‑term decarbonization goals.
Management pointed to higher development and financing costs, regulatory delays and evolving incentives—particularly in the U.S.—and said investments will be guided by strict return thresholds.
The 2030 renewables goal shifts from 20 GW to just over 10 GW. Low‑carbon fuels targets move to 1.6–1.8 Mt of biofuels and 0.7–0.8 TWh of biomethane, down from 2.4–2.7 Mt and 2.1–2.3 TWh.
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