Repsol’s earnings from its commercial and renewables business were €228m in the first half of 2021, an increase of 40% on the €163m posted in the first six months of 2020.
Second quarter earnings for the business unit reached €127m compared with €101m in the second quarter of 2020.
Repsol has also stepped up its renewables target to 2025 to 6GW of installed capacity, up from 5.2GW previously.
The Spanish energy company also intends to increase its hydrogen target to 550MW in 2025, up from 400MW, and 1.9GW in 2030, up from 1.2GW.
In line with its decarbonisation objectives, Repsol has, in the last six months, further consolidated its renewable generation assets portfolio and boosted its international expansion in renewables through a deal with Hecate Energy in the US.
The acquisition of Hecate Energy provides Repsol with access to a 40GW portfolio of solar and storage projects.
In the period the company also began operations at the 127MW Kappa and 264MW Valdesolar solar plants in Spain.