Cepsa will invest between 7,000 and 8,000 million euros until 2030 in its new strategy ‘Positive Motion’ with which it seeks to become “leader in sustainable mobility and energy in Spain and Portugal” with a greater focus on customers. 60% of this investment will go to business sustainable from 2023, which will translate, according to the company, into a greater contribution of sustainable businesses to Ebitda, going from 14% in 2022 to more than half in 2030.
In addition, the company has established a ambitious roadmap to reduce its CO2 emissions by 55% compared to 2019, and achieve zero net emissions by 2050, as well as reduce the carbon intensity of its products by between 15 and 20% by 2030. The company’s new business vision will consist of two ecosystems: sustainable mobility and ‘new commerce’, and sustainable energy. All this fueled by the Energy Parks and alliances with other strategic partners.
In the field of electric mobility, Cepsa wants to create the main sustainable mobility ecosystem and the largest ultra-fast electric recharging network on the road in Spain and Portugal to achieve, together with Endesa, a minimum ratio of a 150 kW charger every 200 kilometers on major highways and intercity highways. In addition, will boost the demand for green hydrogen in the transport by highwaywith a goal of establishing a refueling station every 300 kilometers by 2030, in the corridors that connect Spain with Europe.
In addition, the service stations of the oil company, the second largest network in Spain and Portugal, will be transformed into digitized spaces that will offer a wide variety of ultra-convenience and restaurant servicessuch as fresh food, parapharmacy, e-commerce, parcel collection points and sustainable car wash service, as well as multi-energy solutions for roadside refueling, and will use advanced analytics to transform the customer experience and drive loyalty.
On the other hand, the oil company seeks to lead in 2030 the production of green hydrogen and second generation biofuels. In the first case, with a capacity of 2 gigawatts (GW) in 2030 and be a benchmark in the import and export of this energy to the European continent, Africa and the Middle East. In the second case, it foresees a production of 2.5 million tons per year in 2030, which will lead it to become a reference supplier of sustainable aviation fuel (SAF), with an annual production of 800,000 tons (the company represents today 35% of the energy supply market for the aviation sector in Spain).
To carry out this new strategy, the oil company will bet on convert its refineries into diversified and sustainable energy parks and will implement technologies based on artificial intelligence and analytics technology to optimize its processes and reduce the environmental impact of the activity of its industrial centers. In the field of renewable energies, Cepsa will develop a portfolio of solar and wind energy projects for its own consumption, with a capacity of 7 gigawatts (GW), of which 1.5 gigawatts (GW) are already connected to the grid .
For their part, the Chemicals and Exploration and Production businesses will remain unchanged. The Chemicals business aims for up to 30% of its sales in 2026 to come from low-carbon products. Meanwhile, the greater autonomy in the management of the Exploration and Production business will be key, according to the company, to generate cash flows that facilitate the transformation of the group.