Repsol has completed construction of its Frye Solar project, its largest photovoltaic plant to date, with a total installed capacity of 637 MW and 570 MW currently in operation. Located in the United States, the Frye Solar project was built near the city of Kress, Swisher County, Texas. Frye Solar is comprised of almost one million solar panels.

Repsol has already signed a long-term power purchase agreement (PPA) for 89% of the output from this project as part of its strategy to lock in returns for this type of asset. Repsol's total renewable installed and under development capacity in Texas is 2,091 MW, including the facilities at Frye (637 MW), Outpost (629 MW), and Pinnington (825 MW). In addition, Repsol already generates renewable electricity at its existing solar power plants in New Mexico, Jicarilla 1 and 2, with a total installed capacityof 125 MW and 20 MW of battery storage.

Repsol entered the U.S. onshore wind market with the acquisition last year of ConnectGen from Quantum Capital Group. Renewable energy generation is currently one of the pillars of Repsol's decarbonization strategy. According to the Strategic Update, Repsol will invest between EUR3 and 4 billion to organically develop its global project portfolio and aims to reach between 9,000 MW and 10,000 MW of installed capacity by 2027.

Of this, 30% will be in the United States, after consolidating the Hecate and ConnectGen project pipeline.