Repsol Ibereólica Renovables Chile, in collaboration with the Ibereólica Renovables Group, has achieved a significant milestone with the commencement of electricity production from the first phase of the Elena solar plant in Chile. The joint project, located in the town of María Elena in the Antofagasta Region, marks Repsol Ibereólica Renovables Chile's third successful venture, following the Cabo Leones III and Atacama wind farms.
With an initial installed capacity of 76.8 MW, the Elena photovoltaic plant incorporates 142,275 bifacial photovoltaic solar modules. Once fully operational, this solar project will generate clean and renewable energy, supplying more than 554,000 households in Chile. Importantly, it will also contribute to a reduction of approximately 1.19 million tons of CO2 emissions, making a significant impact on the environment.
João Paulo Costeira, Repsol's Executive Managing Director of Low Carbon Generation, expressed enthusiasm about the collaboration with the Ibereólica Renovables Group, an experienced partner known for its renewable energy expertise. This joint effort enables Repsol to pursue its growth and diversification goals in Chile, a country with immense potential for asset development. By achieving their target of 6,000 MW in operation by 2025, Repsol aims to play a key role in Chile's journey towards decarbonization.
Gregorio Álvarez, founder and president of the Ibereólica Renovables Group, shared his delight in celebrating the start of electricity production at the Elena photovoltaic plant. This achievement showcases the commitment of both Repsol and the Ibereólica Renovables Group to the decarbonization of Chile and their joint efforts in creating a sustainable future for the country. The collaboration has laid a strong foundation for further development and the realization of a more environmentally friendly Chile.
Repsol Ibereólica Renovables Chile's portfolio includes not only the Elena solar plant but also the successful operation of the Atacama wind farm, which has an installed capacity of 165.3 MW, and the Cabo Leones III wind farm, which has a capacity of 192.5 MW. These projects reflect Repsol's commitment to its decarbonization objectives and the ambition to become a net-zero emissions company by 2050.
The joint venture between Repsol and the Ibereólica Renovables Group is set to achieve even greater milestones in the coming years. Their combined portfolio includes assets in various stages of development, construction, or operation, amounting to approximately 1,800 MW. With the potential to exceed 2,600 MW by 2030, these projects play a vital role in advancing the renewable energy sector in Chile.
Repsol continues its commitment to decarbonization not only in Chile but also globally. Apart from their operations in Chile, Repsol has significant renewable energy installations in Spain, the United States, and Portugal. Additionally, the company is set to develop renewable projects in Italy, further bolstering its position as a leading player in the renewable energy sector. The acquisition of Asterion Energies, a portfolio of renewable assets totaling 7,700 MW, further strengthens Repsol's commitment to achieving its target of 6,000 MW in installed renewable generation capacity by 2025 and 20,000 MW by 2030.
The Ibereólica Renovables Group is also dedicated to becoming one of the foremost platforms for renewable projects globally. With over 1,000 MW already in operation, the group aims to reach 6,000 MW by 2029. Their extensive portfolio includes projects in wind, hydro, and solar photovoltaic energy, with a focus on wind energy projects. Spain, Chile, Peru, and Brazil serve as their primary areas of operation and development.