Spain's Repsol may bring new investors into US renewables unit

Core Viewpoint - Repsol is considering bringing in new investors for its U.S. renewables business as part of its strategy to transition from a traditional oil and gas company to a multi-energy player [1] Group 1: Business Strategy - Repsol has developed a portfolio of wind, solar, and hydroelectric projects since 2018, focusing on renewable power generation [1] - The company is also investing in green hydrogen and low-carbon fuels as part of its broader energy transition strategy [1] Group 2: U.S. Market Presence - In the U.S., Repsol has approximately 2.8 gigawatts (GW) of capacity either operating or under construction, along with a development pipeline exceeding 15 GW [1] - The U.S. is identified as a key market for Repsol's low-carbon division, alongside Spain [1] Group 3: Financial Outlook - CEO Josu Jon Imaz stated that the renewables division will be self-financed over the next three years, marking a shift from being a cash consumer to a cash generator [1] - Repsol has reduced its renewable power generation target and will concentrate on green energy projects that provide the best returns while managing exposure through asset sales and partnerships [1]