Repsol starts power and gas retail biz in Portugal

Spanish multi-energy group Repsol SA (BME:REP) has opened a power and gas retail business in Portugal, promising customers 100% renewable energy and enticing them with discounts on fuel at some 500 service stations it has in the country.

Repsol said on Tuesday that, as of July, it will start selling renewable power and gas to residential customers in Portugal, and power to companies, in line with its 2021-2025 strategic plan to become a major multi-energy retailer on the Iberian Peninsula.

The oil-and-gas group developed the retail business in Spain through a series of customer acquisitions over the years, and added low-carbon and renewable generation assets to complete the offering. At present, Repsol has close to 1.5 million power and gas customers in Spain, and now wants to become a major player in this market in the neighbouring country, the company said.

In Portugal, Repsol operates a petrochemical complex, service stations and a commercial business selling petroleum products. In the renewables segment, the company is a minority shareholder in the 25-MW Windfloat Atlantic offshore wind farm located off the coast of the Portuguese municipality of Viana do Castelo.

Choose your newsletter by Renewables Now. Join for free!