Cepsa is a leading player in the European energy sector, and Mubadala has placed sustainability at the core of the company’s culture, operations and financial decisions.
In 2022, Cepsa launched its ‘Positive Motion’ energy transition strategy. The company intends to generate more than half of its EBITDA from sustainable businesses by 2030 and reduce Scope 1 and 2 emissions by 55 percent and Scope 3 by 15-20 percent by 2030, some of the most ambitious targets in the sector. Cepsa will reach net zero by 2050 and go beyond it to become net positive.
Positive Motion will be delivered through the allocation of EUR 8 billion across four key strategic pillars. The first of these pillars focuses on the development of major Green Hydrogen production capabilities, with a €3 billion investment that will deliver 2GW of capacity in Andalusia, creating Europe’s largest Green Hydrogen hub.
The second pillar of the strategy is to become a leader in advanced biofuels. Cepsa intends to produce 2.5 million tons of biofuels and 800,000 tons of Sustainable Aviation Fuel per annum by 2030.
Sustainable aviation fuel delivers an 80 percent emissions reduction in comparison to traditional aviation fuels.
The third pillar is transforming the company’s legacy refineries into Green Energy Parks. These will develop new green products that decarbonize Cepsa’s production, which in turn will help the company’s industrial customers with their decarbonization efforts.
The final pillar is to become a leader in sustainable mobility and new commerce. Cepsa is developing Spain’s leading ultra-fast, on-the-go charging network with 1,800 service stations becoming digitally-enabled ultra-convenience destinations.
