Madrid, Spain. Photograph by Jorge Fernandez Salas below Unsplash License.
Repsol has established Repsol Earth Options Holding with the purpose of diversifying its focus in the direction of geothermal power and hydrogen.
At first of April, Repsol introduced the creation of a brand new firm, “Repsol Earth Options Holding SL”, devoted to geothermal and hydrogen initiatives, marking its dedication to the power transition. With a give attention to the analysis, growth and exploitation of renewable power sources, the corporate seeks to diversify its operations past hydrocarbons.
Repsol Exploración, SA has three geothermal exploration permits within the Canary Islands, a geological area with excessive geothermal potential as a result of its volcanic exercise, evidenced by latest eruptions reminiscent of these of La Palma in 2021 and El Hierro in 2011. With these permits, granted by The Normal Directorate of Business of the Authorities of the Canary Islands, Repsol carries out research to judge the technical and financial potential of those sources. Exploration work contains structural evaluation, rock sampling and geophysical knowledge acquisition.
As well as, Repsol Exploración SA was a beneficiary of subsidies from the Institute for Power Diversification and Saving (IDAE) for feasibility research of geothermal initiatives.
These initiatives mark a big step in Repsol’s efforts to maneuver in the direction of a extra sustainable power matrix, whereas contributing to financial and technological growth within the areas the place it operates.
Supply: Affiliation of Spanish Petroleum Geologists and Geophysicists (Linkedin) / El Periodico de la Energía by way of our Spanish language platform PiensaGeotermia
