The Iberian Renewables Boom: A Tale of Two Continents

As reported by GreenTech Media, Spain and Portugal are on a tear to build wind farms, in a concerted effort to meet their 2050 objective of carbon-neutrality.  Spanish oil giant Repsol is using the metric of carbon intensity to gauge its progress. Interim targets, on a 2016 baseline, are 10 percent by 2025, 20 percent by 2030 and 40 percent by 2040.

Repsol will build and operate 860 megawatts spanning 26 new wind farms in its home country, nearly doubling its pipeline of renewables projects in development. Like a growing number of European oil companies, it’s looking to the power market to find low-carbon revenue.

On the other side of the Atlantic, U.S.-based oil companies like ExxonMobil, ConocoPhillips, and Chevron are doing essentially nothing–except funding the election campaigns of Republicans who claim climate change is a hoax.