Repsol has lowered its 2030 targets for renewable capacity and low-carbon products, citing changing market conditions, according to its 2025 results report.
The Spanish energy group now aims to exceed 10 gigawatts (GW) of installed renewable capacity by 2030, primarily in Spain and the United States. This compares with a 2021 target of 20 GW by the end of the decade. As of the end of 2025, Repsol had 5.8 GW of installed renewable capacity.
The company said growth plans had been adjusted in response to higher development and financing costs, as well as evolving US tax 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 stated.
Repsol also reduced its targets for low-carbon fuels, pointing to demand and regulatory trends, particularly in renewable hydrogen. It now expects to reach biofuel production capacity of between 1.6 and 1.8 million tonnes and biomethane output of 0.7–0.8 TWh by 2030. Previous targets had been set at 2.4–2.7 million tonnes of biofuels and 2.1–2.3 TWh of biomethane.
The company had earlier cut its green hydrogen ambitions, citing delays in market development and regulatory frameworks.
Chief executive Josu Jon Imaz said: “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.”
