Cepsa announces investment of 5,000 million and 17,000 new jobs in Andalusia "to lead the energy transition"

SEVILLA, 25 May. (EUROPA PRESS) -

Cepsa announced this Wednesday that it will invest up to 5,000 million euros in Andalusia this decade, a figure that "represents close to 60% of the total amount" --8,000 million euros-- that the company will invest "to lead the generation of energy in Spain and Portugal and be a benchmark in the energy transition".

The company has highlighted in a statement that, in this way, "it places Andalusia as the central axis of its new strategic plan, 'Positive Motion', and will place it at the forefront of Europe in the latest technologies for the generation of green hydrogen and biofuels". As a result of this investment, Cepsa estimates that it will generate 17,000 jobs, between direct, indirect and induced jobs, during the construction and useful life of the projects. Of these, 13,000 will be direct or indirect jobs and 4,000 induced.

The CEO of Cepsa, Maarten Wetselaar, presented this Wednesday the strategic lines of this plan during an informative meeting held in Seville, organized by the Nueva Economía Forum, in which he highlighted the strategic and historical nature of this commitment.

"For more than 50 years, Andalusia has been an outstanding region for Cepsa, but in the new 'Positive Motion' strategy it will be even more so as it will become the heart of our activity. We have strategic enclaves in Huelva and Campo de Gibraltar that they present optimal conditions for the development of green molecules and electrons, which will allow us to decarbonize our activity and that of our clients. Our commitment and dedication to Andalusia are reflected in the 17,000 jobs, direct or indirect, that we are going to create", has assured in this forum.

Cepsa, which has also recalled that it is currently one of the main producers of hydrogen in Spain, will install plants for the production of green hydrogen in its Andalusian industrial centers, which will allow it to "lead the production of this energy in Spain and Portugal in 2030, with a capacity of 2 GW". According to the press release, Cepsa's facilities --Huelva and Campo de Gibraltar-- have "a favorable and very competitive location to develop the hydrogen import and export business in Europe".

By 2030, 70% of the green hydrogen produced by the company will go to the decarbonisation of its customers: adjacent industries, road transport and maritime transport. At the same time, Cepsa aspires to lead the production of second-generation biofuels, with a production of 2.5 million tons per year in 2030, thus promoting the circular economy. In this area, Cepsa will become a reference supplier of sustainable aviation fuel (SAF), with an annual production of 800,000 tons. All this will take place in its industrial centers in Andalusia, which are being transformed into biorefineries and in which it will install new units to process these products.

Likewise, the company will implement technologies based on artificial intelligence and advanced analytics in its Andalusian energy parks 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 GW. In Andalusia, the company already has 1 GW connected to the grid.

In Cepsa's new strategy, the decarbonisation of road transport and the mobility of the end customer will play a fundamental role. The company will develop, both in Andalusia and in the rest of Spain, the largest electric mobility ecosystem, together with Endesa, developing the widest network of ultra-fast charging on the road, which will reach a minimum ratio of a 150 kW charger every 200 kilometers on major highways and intercity highways. Likewise, it will boost the demand for green hydrogen in road transport, for which the goal of establishing a refueling station every 300 kilometers in the corridors that connect Spain with Europe has been set by 2030.

Cepsa's service stations, with 280 establishments in Andalusia, will be transformed into digitized spaces that will offer a wide variety of ultra-convenience and restaurant services, including fresh food, parapharmacy, e-commerce, parcel collection points and a sustainable laundry service of vehicles, as well as multi-energy solutions for refueling on the road. In addition, through advanced analytics tools, the customer experience will be transformed and its loyalty program, leader in this Community, will be promoted.

Also, through decision-making based on artificial intelligence, the company "will be able to offer comprehensive services in real time." Cepsa's Chemicals division, which has two globally benchmark plants in Palos de la Frontera (Huelva) and San Roque (Cádiz), will promote the development and production of chemical products from renewable and recycled raw materials, added information.

In this way, "it will reinforce its global leadership in the LAB (raw material for the manufacture of biodegradable detergents) and phenol (used for the production of high-tech plastics) markets".

The press release has also emphasized that through its new 2030 Strategy, 'Positive Motion', Cepsa seeks to become a leader in sustainable mobility and energy in Spain and Portugal, and to be a benchmark in the energy transition. To do this, it will become a company more focused on the needs of its customers, who also face their own challenges in the decarbonisation of their activities.

Cepsa will invest between 7,000 and 8,000 million euros in this decade, of which 60% will be allocated to sustainable businesses from 2023. All this will translate into a greater contribution of sustainable businesses to Ebitda, which will contribute more than half in 2030.

The company has established an ambitious roadmap to cut its emissions, placing itself among the leading companies in its sector. Specifically, in 2030, it will reduce its CO2 emissions (scope 1 and 2) by 55% compared to 2019 and aims to be carbon neutral before 2050. As for scope 3, the carbon intensity of its products will be reduced between 15 and 20% in 2030. Cepsa wants to go beyond net zero and reach net positive, allowing customers and society to move in the right direction.

Cepsa is a leading international company committed to sustainable mobility and energy with solid technical experience after more than 90 years of activity. The company also has a world-leading chemical business with an increasingly sustainable activity. In 2022, Cepsa presented its new strategic plan for 2030, Positive Motion, which projects its ambition to be a leader in sustainable mobility, biofuels and green hydrogen in Spain and Portugal, and to become a benchmark in the energy transition. The company places customers at the center of its activity and will work with them to help them advance their decarbonisation goals.

ESG criteria inspire everything Cepsa does to move towards its Net Positive goal. In this decade, it will reduce its scope 1 and 2 CO2 emissions by 55%, and scope 3 emissions by between 15% and 20%, with the goal of reaching net zero emissions by 2050.