The president of Petronor and director of Repsol, Emiliano López Atxurra, this Monday gave a twist to the threat launched last week by the CEO Josu Jon Imaz regarding the future of its industrial investments if the Government does not clarify its energy policy .
Specifically, he has specified that this investment prudence will affect the 100 mega watt synthetic fuel plant planned in the Basque Country, whose budget is still pending definition. “The CEO has never said that Repsol would leave Spain, but he did assure that the company will consider the new industrial projects that will remain on standby if there is no stable and predictable regulatory framework,” said López Atxurra, specifying the warning that Josu Jon Imaz, the CEO of Repsol, had launched last Thursday at a conference with analysts to present the company's results.
Regarding investments in Euskadi, Atxurra has confirmed that the company will continue to advance in those whose investment is already approved, such as the synthetic fuel and hydrogen plants, 2.5 megawatts, which it presented at the end of September and its bigger sister of 10 megawatts that is under construction. In any case, he explained that both “are Demos plants!, to demonstrate the reliability, safety and feasibility of the new fuel in market terms.
“That, logically, leads to that Demo plant, which later has a translation, which is an industrial plant. This industrial plant (in principle projected with about 1100MW) will logically be on 'stand by' because we will have to implement an industrial investment in a regulatory environment that is not only friendly, but also predictable," he specified.
The Basque counselor has not given more examples, but based on the profiles of the investments announced by Repsol, this standby will also affect the Ecoplant projected in El Morell, (Tarragona). Which was announced as the first plant in Spain to transform non-recyclable urban solid waste into methanol that would be used to manufacture new materials and advanced biofuels. This is a project in which Enerkem (technology leader) and Agbar (worldwide specialist in water and waste management) also participate.
At the same time, pending the final investment decision is a 150 MW electrolyzer planned for Tarragona and another 100 MW to be installed in Cartagena, which could also be paralyzed.
Atxurra's statements have also reinforced the message sent by Imaz that Repsol is one of the largest taxpayers and that the application of taxes based on concepts such as “profits fallen from the sky” is not justified. The president of Petronor and director of Repsol does not believe "that oil penalty is relevant
Along these lines, he has defended that there be an "adaptation to changes because they are survival, but it must be done with rigor and, above all, without prejudice." "It is our element of concern, because we are acting with prejudices," he maintained.
On the other hand, the general secretary of CCOO, Unai Sordo, described this Monday as “quite obscene” that there are large companies that, due to the maintenance or not of certain tax figures, “allow themselves to threaten, even veiledly”, “a State and a Democratic government.” According to his forecast, these are "false threats", given that "no company is going to disinvest in Spain simply because a tax is maintained that has a very limited impact on its profits." “Companies that have more profits have to contribute more to the common good, to reinforce public services, to reinforce the State Budgets that are missing and stop making threats,” he noted.
