23 Apr 2024

Repsol Establishes New Entity for Geothermal and Hydrogen Business

23 Apr 2024  by thinkgeoenergy   

Madrid, Spain. Photo by Jorge Fernandez Salas under Unsplash License.
At the beginning of April, Repsol announced the creation of a new company, “Repsol Earth Solutions Holding SL”, dedicated to geothermal and hydrogen projects, marking its commitment to the energy transition. With a focus on the research, development and exploitation of renewable energy sources, the company seeks to diversify its operations beyond hydrocarbons.

Repsol Exploración, SA has three geothermal exploration permits in the Canary Islands, a geological region with high geothermal potential due to its volcanic activity, evidenced by recent eruptions such as those of La Palma in 2021 and El Hierro in 2011. With these permits, granted by The General Directorate of Industry of the Government of the Canary Islands, Repsol carries out studies to evaluate the technical and economic potential of these resources. Exploration work includes structural analysis, rock sampling and geophysical data acquisition.

In addition, Repsol Exploración SA was a beneficiary of subsidies from the Institute for Energy Diversification and Saving (IDAE) for feasibility studies of geothermal projects.

These initiatives mark a significant step in Repsol’s efforts to move towards a more sustainable energy matrix, while contributing to economic and technological development in the regions where it operates.

Source: Association of Spanish Petroleum Geologists and Geophysicists (Linkedin) / El Periodico de la Energía via our Spanish language platform PiensaGeotermia

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