MRC -- Cepsa has begun to search for and develop projects for the construction and operation of biomethane production plants from agricultural and livestock waste to decarbonize its industrial activity, replacing the use of natural gas with this renewable gas, said the company.
By 2030, the company aims to manage a project portfolio of 4 TWh per year, an ambitious target, equivalent to the energy needed for 650,000 homes, which will enable it to significantly reduce CO2 emissions from its power plants and chemical plants, as well as providing a complementary vector to produce green hydrogen and employment in sustainable mobility.
The use of this renewable gas, instead of fossil fuels, will result in the reuse of 10 million tons of waste per year and will prevent the emission of 728,000 tons of CO2 per year, equivalent to planting 8.7 million trees.
The plants will use agricultural and livestock waste to produce biomethane aimed at replacing natural gas in Cepsa's industrial activity, it said. This will allow the reuse of 10 million tons of waste and avoid the emission of 728,000 tons of CO2 every year, it said.
The first five plants are expected to start operations between 2025 and 2026. Cepsa wants to reach net zero emissions by 2050.
We remind, Cepsa plans to nearly double its investments over the next three years to a total of 3.6 B euros (USD3.82 B), with more than half of that amount going to sustainable energy and mobility. It also posted a full-year net profit at current cost of supplies (CCS) of 790 MM euros for 2022, up sharply from the 310 MM euros reported in 2021. The planned investment increase of 93% for 2023-25 is from the previous three years, Cepsa said.