Repsol and the Ibereólica Renovables Group have completed construction of Cabo Leones III, the companies’ first joint wind farm in Chile. The wind farm, with a total installed capacity of 188.1 MW, is located in the province of Huasco in the northern region of Atacama. The wind farm's first phase launched at the end of 2020, with 78.1 MW generated by 22 Siemens-Gamesa wind turbines (SG-132) with nominal power of 3.55 MW. An additional 22 Siemens-Gamesa wind turbines (SG-145), with nominal power of 5 MW, were installed in this second phase to add 110 MW of installed capacity.As the second phase approaches completion, commercial operations are slated to begin in the fourth quarter of 2021. Together, both phases are expected to produce approximately 520 GWh of power per year with the capability of meeting the energy needs of 170,000 Chilean households. Repsol and the Ibereólica Renovables Group secured long-term funding for Cabo Leones III through a project financing arrangement worth USD 209 million with Spanish and international financial institutions. The deal includes long-term debt and establishes a series of guarantees.As part of the joint venture in Chile between Repsol and the Ibereólica Renovables Group, the Cabo Leones III wind farm belongs to a portfolio of assets already in operation, under construction, and in advanced stages of development totaling more than 1,600 MW and slated for commercial use through 2023, with the possibility of surpassing 2,600 MW by 2030.In addition to Cabo Leones III, in the period until 2023, the joint venture also foresees carrying out the Atacama wind farm project with a total installed capacity of up to 180 MW.