Finance
Spain's Repsol cuts renewable energy targets
Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: February 20, 2026
Tags:renewable energy
Quick Summary
Repsol 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.
Spain's Repsol trims 2030 renewables goal, lowers low‑carbon plans
By Pietro Lombardi
Repsol’s Revised 2030 Energy Strategy
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.
New renewables target: >10 GW by 2030
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.
Previous plan: 20 GW by 2030
By comparison, in 2021 it had planned to reach twice that capacity by 2030, or 20 GW.
Rationale: costs and U.S. incentives
"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.
Installed capacity end‑2025: 5.8 GW
At the end of 2025, Repsol had an installed capacity of 5.8 GW.
Low‑carbon fuel goals reduced
Repsol also reduced its targets for low-carbon fuels, "in response to prevailing demand and regulatory trends, especially in relation to renewable hydrogen."
Biofuels: 1.6–1.8 million tons
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: 0.7–0.8 TWh
biomethane. The previous targets were 2.4 to 2.7 million tons and 2.1 to 2.3 TWh.
Green hydrogen targets already cut
It had already slashed targets for green hydrogen due to delays in the development of the market and the regulatory framework.
CEO guidance on decarbonisation pathway
A Repsol spokesperson pointed to comments from Chief Executive Josu Jon Imaz on Thursday.
Medium‑term modulation, long‑term intact
"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)
Key Takeaways
- •Repsol lowered its 2030 installed renewables target to just over 10 GW, down from a prior 20 GW plan.
- •New focus centers on Spain and the United States, prioritizing projects that meet profitability thresholds.
- •Targets for low-carbon fuels were reduced to 1.6–1.8 Mt of biofuels and 0.7–0.8 TWh of biomethane.
- •Management cited higher development and financing costs and evolving incentives as key drivers.
- •Installed renewable capacity stood at 5.8 GW at end-2025; hydrogen goals had already been scaled back.
Frequently Asked Questions about Spain's Repsol cuts renewable energy targets
1What is the main topic?
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.
2Why did Repsol cut its targets?
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.
3How do the new goals compare with previous plans?
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.
