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Repsol raises green targets in bid to
reach net-zero goal by 2050
ASIA SPAIN’S Repsol now aims to reach 6 GW of intensity, compared with the previous target of
renewables capacity by 2025 and 20 GW by 2030 25%.
as the first steps in becoming a net-zero emis- The company has also announced an absolute
sions company by 2050. emissions reduction target for the first time. It is
The 20-GW target for 2030 is 60% higher committed to reducing 55% of emissions from
than its previously announced 12.7 GW, while operated assets (Scope 1 and 2) and 30% of net
the 2025 target has risen from 5.2 GW to 6 GW. emissions (Scope 1, 2, and 3) by 2030.
The company also announced increased Repsol currently plans to end 2021 with 1.7
emissions reduction and green investment tar- GW of renewable capacity and another 4.7 GW
gets for the coming decade. in projects under construction.
Repsol will allocate an additional €1bn to The company has maintained its existing
low-carbon projects in the 2021-2025 period, up hydrogen targets of 552 MW in 2025 and 1.9 GW
to a total of €6.5bn, compared with the €5.5bn in 2030. It will achieve them by the installation of
established in the company’s Strategic Plan. electrolysers and biogas production plants at the
Now investments earmarked for low-emis- company’s industrial complexes, as well as the
sion initiatives will stand at 35% in the 2021- development of the proprietary photoelectroca-
2025 period, and the capital employed for these talysis technology.
purposes will reach 45%, five percentage points Upstream, Repsol aims to reduce its CO2
more than announced in 2020, in 2030. emissions intensity by 75% in the 2021-2025
The company published its new road map as period. Carbon capture and storage (CCS)
part of its wider 2021-2025 Strategic Plan at its will play a key role in the development of new
recent Low Carbon Day. projects.
Meanwhile, the new decarbonisation path- In 2027, the company will start up the storage
way to reach carbon neutrality in 2050 estab- of 2mn tonnes per year (tpy) of CO2 at Sakake-
lishes a reduction of the Carbon Intensity mang, the largest gas discovery in Indonesia in
Indicator of 15% in 2025, 28% in 2030 and 55% the last decades.
in 2040, compared with the previous ones of This CCS project is among the largest of its
12%, 25% and 50% respectively. kind in the world, and it will be the first for Rep-
The company has also set a more ambitious sol and Indonesia.
target of 0.20% in 2025 for methane emissions
P8 www. NEWSBASE .com Week 40 06•October•2022
