CEPSA and Masdar targets to establish 600 MW of renewable capacity in Spain and Portugal

Pedro Miró, CEO of Cepsa, and Mohammed Jameel Al Ramahi, CEO of Masdar, at the signing of the agreement

Spanish oil and gas company CEPSA (Compania Espaniola de Petróleos S.A) and Abu Dhabi Future Energy Company (Masdar) are going to focus their collaboration on renewable energy. After signing a Memorandum of Understanding in 2017, this new agreement aims to grow the renewables portfolio of both companies. The focus will be on proven clean technologies, wind and PV, in Spain and Portugal, where Cepsa is interested in establishing a capacity of 500 to 600 MW in the next five years.
According to the companies, the collaboration builds on the energy expertise of both companies, which are wholly owned by Mubadala Investment Company, and reflects their efforts to leverage synergies across Mubadala’s diverse business portfolio to accelerate the deployment of renewable energy in international markets.

Related News