Charles River Labs to buy wind power for European ops from Repsol

Spanish energy company Repsol SA (BME:REP) has entered into a virtual power purchase agreement (VPPA) with US pharmaceutical company Charles River Laboratories International Inc (NYSE:CRL) tied to 30.5 MW of wind capacity in Spain.

Repsol will provide enough wind energy to Charles River so it could meet 100% of its European power needs by 2023.

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The renewable power will be sourced from a wind farm that is currently under construction. Scheduled to be completed in 2023, the asset is part of the 860-MW Delta II wind complex located in the eastern Spanish region of Aragon. With a total of 26 wind parks, Delta II is Repsol's largest renewable project to date, the multi-energy company said.

Repsol recently increased its 2030 target for installed renewables by 60% to 20 GW and aims to hit 6 GW in 2025.