Cepsa plans to reach net zero by 2050

As part of its energy transition strategy, Cepsa expects to invest between $7.8 billion and $8.9 billion in Spain and Portugal by 2030. From next year, the corporation will devote more than 60 per cent of its investment to sustainable businesses. Cepsa has stated that it intends to build a 7 GW renewable energy project pipeline for its own usage, which will include solar and wind generating plants. Out of this, 1.5 GW of capacity has been connected to the grid. Cepsa’s new 2030 ‘Positive Motion’ strategy, which intends to position the corporation as a leader in energy and transportation, includes the investment plan.