This spring, the Intergovernmental Panel on Climate Change (IPCC) released the third part of its Sixth Assessment Report on climate change mitigation. The document warns that greenhouse gas emissions have continued to rise over the past decade, a trend that urgently needs to be reversed to meet the Paris targets: a maximum temperature rise of 1.5ºC or significantly less at 2ºC. What are our big companies doing to reduce their carbon footprints? Some facts moving forward throughout this report are illustrated.
iberdrola
iberdrola For example, it leads the development of green hydrogen with more than 60 projects to respond to the electrification and decarbonisation needs of sectors such as industry or heavy transport.. It is therefore at the forefront of the new technological challenge posed by the production and supply of hydrogen from 100% renewable energy sources in the electrolysis process. To this end, it built Europe’s largest green hydrogen plant for industrial use in Puertollano (Ciudad Real), using 100% renewable electricity to produce ammonia and green fertilizers.
In addition, Iberdrola and Grupo Fertiberia, together with the University of Huelva, in Andalusia’Green Hydrogen Cluster Gateway to Europe’. The aim is to concentrate the largest production center in the industrial center of Huelva (especially in Palos de la Frontera).Conversion and consumption of green hydrogen to decarbonize , industry and heavy transport. The cluster has more than 80 partners and plans to develop more than 600 MW of electrolyzers, the necessary mechanism for obtaining hydrogen.
Continuing in this line and together with the world energy leader Cummins, the company Installation of one of the world’s largest electrolyzer plants in Guadalajara for green hydrogen production. It is expected to be operational in 2023.
Iberdrola is also involved in the decarbonisation of other industrial processes, such as agreements with BP. The largest green hydrogen project in the Valencian Community. The aim of this alliance is to install an electrolyzer for green hydrogen production on BP’s land on the Castellón industrial estate in El Serrallo.
Porcelanosa is also working on the first full-scale solution to electrify ceramic production. It combines renewable energy, green hydrogen and a heat pump. It is a solution that aims to optimize residual thermal energy by substituting up to half of natural gas as fuel for green hydrogen.
Iberdrola on the decarbonization route Working with company Foresa to analyze the development of renewable hydrogen investments for industrial green methanol production in Galicia. Both companies could undertake the construction of a 20 MW green hydrogen power plant (expandable to 150 MW) obtained by electrolysis with renewable energy.
A key milestone in the transport sector will be the Trans-European Transport Network based on green hydrogen. It will consist of a series of priority transport networks designed to facilitate the communication of people and goods across the European Union. along this network Iberdrola will set up logistics platforms for road transport (19 destinations, including Zaragoza, Murcia and the Valencian Community) in key locations, mainly for the supply of materials to road truck fleets.
The project is also a complement to the initiated project. In the Barcelona Free Trade Zone, where for ten years a hydrogen will serve Transports Metropolitans de Barcelona (TMB) buses and other fleets and industries of the range. The commissioning of the Zona Franca hydrogen plant, completed in less than a year, will allow the creation of a green hydrogen hub in one of the country’s most important industrial areas. It will serve to supply this energy vector to TMB company, which has put the first green hydrogen-powered bus into circulation on the streets of Barcelona.
Endesa
On the other hand, Endesa announces a 25,000 million investment ‘mega plan’ by 2030 aimed at promoting renewable energy in 2020 and digitization of the electricity grid, with 80% of its production expected to be free of CO2 emissions by the end of this decade.
In the short term, by 2023, Endesa has announced an acceleration in its investments in renewable energies and its decarbonisation, based on a significant increase in the digitization of its grid, as well as in the electrification of housing demand and sectors such as: industry or transportation. First, According to the 2020-2022 strategic plan, it will increase the volume of its investments by 25% to 7,900 million euros for the three years of the 2021-2023 period. Of this figure, 3,300 million will be used to increase the renewable energy generation park, which is 20% higher than the previous plan.
With this investment, the company will reach 11,500 MW of solar, wind and hydroelectric power by the end of 2023. That is about 50% more than the 7,700 MW for which fiscal year 2020 ends.
Clean energy growth is based on a portfolio of 7,300 MW projects with an estimated start date between 2021 and 2025. 68% of this portfolio corresponds to photovoltaic power plants and the remaining 32% to wind energy. Relying on its customer base, Endesa expects to earn a profitable return on all its investments in clean energy. They went up to 2,600 million euros, an increase of 30% over the previous plan.
Galp
As for the companies producing hydrocarbons, Galp currently ranks third as the largest photovoltaic solar producer in the Iberian Peninsula.It has approximately 1 GW installed capacity in production as part of a total portfolio of 4.7 GW, including projects under development in Spain, Brazil and Portugal. It hopes to approach its goal of increasing renewable energy capacity to 4GW by 2025 and the 12GW committed by 2030.
Last year, the European Investment Bank (EIB) and Galp signed three financing agreements for the construction of solar power plants and the deployment of electric vehicle (EV) charging stations in the Iberian Peninsula. Galp and EIB jointly signed a total financing of €406.5 million, which could be increased to €731.5 million at a later stage. Together, the three projects support climate action and social cohesion and will generate a total average of 3.6 TWh of renewable energy per year, equivalent to the energy consumption of approximately 940,000 homes.
A report by Carbon Tracker, an organization that analyzes the ecological transition capacity of large corporations, shows that ExxonMobil is one of the “least prepared” companies, with climate targets being “weak” and “80% or 90%” of its portfolio of projects “weak”. The traditional model will not be competitive if the temperature rise is limited to 1.6 degrees Celsius. This ratio is between 40% and 50% for Italian Eni and Repsol, and between 50% and 60% for British BP and French Total.
cesa
On your own behalf Cepsa will invest between 7,000 and 8,000 million Euros for ten years within the scope of its new strategic plan ‘Positive Motion’ 2030. Its goal is to lead the energy transition in Spain and Portugal, as reported by the company. This new strategy has two areas of action, sustainable mobility and new tradeand sustainable energy, which will be defined through alliances with Energy Parks (or diversified and sustainable energy parks) and other strategic partners.
More than half of EBITDA or gross operating profit will come from sustainable businesses in 2030At this point, it plans to reduce its scope 1 and 2 carbon dioxide (CO2) emissions by 55% and scope 3 emissions between 15% and 20%. With this, it plans to achieve net zero emissions by 2050. The company also aims to allocate 60% of its budget to sustainable areas by 2023.
repsol
Repsol, one of the largest CO2 emitters in Spain, launched a comprehensive sustainable finance strategy last year to address the energy transition, becoming the first in its industry to offer an “innovative financial framework” that reaches everyone in the world. activities of the company as reported at the time.
In its decarbonisation strategy, Repsol plans to reduce its emissions by 12% in 2025 and 25% in 2030 compared to 2016 figures.. To achieve carbon neutrality by 2050, by 2040 this reduction would already be 50%. hubs Multi-energy capable of producing products with low, zero or even negative carbon footprints and promoting new business models based on digitalization and technology. We will trust to make it four main pillars: energy efficiency, circular economy, capture and use of renewable hydrogen and CO2”, refers to this business group.
cemex
For its part, CEMEX in a single year (2021), it was able to reduce 4.7% of the carbon dioxide emitted per tonne of cementitious material.. This data is gathered in the company’s latest report, “Building a Better Future,” which states that 30% of the electricity used in its cement operations came from renewable energies last year. The new types of clinker used by the company (an important component of cement) already generate 20% less emissions.
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