Spain’s biggest utility company, Cepsa, has announced an ambitious plan to invest between seven and eight billion euros over the next decade on renewable energy and sustainable mobility. With this plan, the company hopes to become a benchmark for the energy transition in both Spain and Portugal, and be carbon neutral by the year 2050. Positive Motion will focus on green hydrogen, electric mobility, biofuels and strategic alliances, which will be key to the company’s long-term success.
The Spanish energy company aims to spend $8 billion by 2030 on sustainable areas, including a refueling network for heavy-duty vehicles. The goal is to create the biggest sustainable e-mobility ecosystem in Europe and create the country’s largest ultra-fast electric-car charging network. It also plans to make service stations “digitally enabled spaces.” Cepsa already has the second-largest network of fuel-efficient cars, and aims to become a leader in green hydrogen and biofuels in Spain, with a capacity of 2.5 million tons a year.
The new strategy will focus on decarbonisation of customers and production of “green molecules.” Cepsa is one of Spain’s biggest hydrogen producers and aims to be a leader in green hydrogen production and exports by 2030. As part of this plan, Cepsa will also invest in new facilities to meet the needs of the growing green hydrogen market in Europe.
Under Wetselaar’s leadership, the company plans to make its service stations a sustainable and digital destination. The new stations will offer a range of services, including pharmacy, e-commerce, sustainable car washing, and multi-energy on-the-go refueling options. Cepsa plans to create a data-driven culture and implement advanced analytics to help drive its sustainability efforts.
As a leader in sustainability, Cepsa has an ambitious plan to reduce its carbon footprint and lead by example. It plans to be carbon neutral by 2030 and net positive for the next century. To achieve this, it will reduce its Scope 3 emissions by 15 to 20% by 2030. In addition, it plans to improve its cash flow by allowing greater autonomy in exploration and production management.