Repsol and Amazon announced on Tuesday the signing of a collaboration agreement whereby both companies will cooperate to achieve their respective sustainability goals. Amazon’s web services division (AWS) will provide Repsol with new cloud services to continue advancing in its digital transformation and Repsol will supply renewable energy to supply Amazon’s operations.
The agreement is specified in the signing of energy supply commitments, known as PPA in its acronym in English, to supply Amazon with renewable energy generated by 234 MW of capacity from solar and wind projects located in Spain. Repsol plans to continue with the growth of its renewable business thanks to the development of a portfolio of projects in operation and development in OECD countries, currently being present in Spain, the United States, Chile and Portugal.
Howard Gefe, AWS General Manager of Energy, assured that the collaboration will help the US firm to meet the commitments of zero net carbon emissions by 2040 and supply the company’s operations with 100% renewable energy in 2030. The objective of Amazon is to achieve that goal by 2025.
Repsol has one of its decarbonisation pillars in the generation of renewable electricity and has recently updated its targets for installed capacity in 2030, to reach 20 GW, which represents an increase of 60% compared to the previous goal. In 2025, installed capacity will increase to 6 GW, from the 1.7 GW with which Repsol plans to finish this year.
Last October, Repsol increased its investment ambition in low-carbon projects. In the period between 2021 and 2025, the multi-energy company will allocate an additional 1,000 million euros to low-carbon projects, up to a total of 6,500 million, compared to the 5,500 million euros established in the Strategic Plan that it approved in November 2020. In December 2019, Repsol was the first company in its sector to make the commitment to be carbon neutral by 2050.
Within the framework of this collaboration strategy, AWS will provide Repsol with new cloud services such as High Performance Computing (HPC), digital twins and natural language processing to help Repsol accelerate its digital transformation and support its sustainability objectives, strengthening its integrated approach towards a hybrid multicloud with the aim of increasing agility, flexibility, reducing emissions and saving costs, as established in the Strategic Plan 2021-2025 of the multienergy company.
In the last three years Repsol has promoted more than 300 digitization initiatives in which more than 1,200 people have been involved. With artificial intelligence, big data, automation of operations or solutions in the cloud as the main axes to transform businesses, retain customers and accelerate the energy transition, returns of more than 330 million euros have been obtained in 2020, of which 150 million are specific for the use of data, analytics and artificial intelligence. In financial year 2021, the returns from the digital program are expected to reach 500 million euros.