(News Bulletin 247) – Repsol announced Thursday evening that it was going to enter the American wind power market with the acquisition of the Texas group ConnectGen for 768 million dollars (715 million euros).
This announcement comes as the Spanish energy company has just sold its oil and gas exploration and production assets in Canada for $468 million.
ConnectGen, acquired from Quantum Capital, has a capacity of 20,000 MW in the form of projects under development, mainly in onshore wind but also in photovoltaics and batteries.
In its press release, Repsol points out that the North American renewable energy market is one of the largest and most dynamic in the world, with 60 GW of additional capacity expected in onshore wind power over the next five years, of which 92 % in the USA.
A trend reinforced by the implementation of the ‘Inflation Reduction Act’ which plans to support the development of the
renewable energies (wind, solar, biomass, green hydrogen, etc.), underlines the group.
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