Cepsa has unveiled its new 2030 Strategy, called Positive Motion, to become a leader in mobility and sustainable energy in Spain and Portugal and a benchmark in the energy transition. To achieve this, it will transform itself into a company more focused on the needs of its customers, who also face their own challenges in decarbonizing their activities.
The company will invest between seven and eight billion euros this decade, of which 60% will be allocated to sustainable businesses starting in 2023. This will result in a greater contribution from sustainable businesses to EBITDA, increasing from 14% in 2022 to more than half in 2030.
Cepsa aims to go beyond net zero emissions and reach net positive, allowing customers and society to move in the right direction. The company has established an ambitious plan to reduce its emissions. Specifically, by 2030, it will reduce its CO2 emissions (range 1 and 2) by 55% compared to 2019, and aspires to reach net zero emissions by 2050. Regarding range 3, the carbon intensity of its products will be reduced 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 of this will be fueled by Energy Parks and alliances with other strategic partners.
Sustainable mobility and new commerce
In Cepsa's new strategy, the decarbonization of road transport and end-customer mobility will play a key role. The company will develop the largest electric mobility ecosystem in Spain and Portugal, together with Endesa, developing the most extensive ultra-fast road charging network, which will reach a minimum ratio of one 150 kW charger every 200 kilometers on main roads and interurban routes.
Cepsa will also boost the demand for green hydrogen in road transport, for which it has set the goal of establishing a refueling station every 300 kilometers by 2030, along corridors linking Spain to Europe.
Cepsa's service stations, the second largest network in Spain and Portugal, will be transformed into digitized spaces offering a wide variety of ultra-convenient and catering services, including fresh food, a pharmacy, e-commerce, order collection points, and a sustainable car wash service, as well as multi-energy solutions for roadside refueling.
Furthermore, Cepsa will focus on a data-driven culture, using advanced analytics to transform the customer experience and boost its loyalty program. And, through AI-powered decision-making, the company will be able to offer comprehensive services in real time.
Sustainable energy
The second major ecosystem of Cepsa's new strategy will focus on accelerating the decarbonization of its industrial, air and maritime transport clients, as well as the company itself, through the production of green molecules, mainly renewable hydrogen and biofuels.
Cepsa, currently one of Spain's leading hydrogen producers, will lead green hydrogen production in Spain and Portugal by 2030, with a capacity of 2 GW. This will make it a benchmark in the import and export of this energy to the European continent, Africa, and the Middle East, thanks to the privileged location of its facilities on the Iberian Peninsula.
In parallel, its extensive experience in energy production and supply, along with its technical expertise, will allow the company to lead the production of second-generation biofuels, with a production of 2,5 million tons per year by 2030, thus promoting the circular economy. In this context, Cepsa will become a benchmark supplier of sustainable aviation fuel (SAF), with an annual production of 800 tons. Cepsa currently represents 35% of the energy supply market for the aviation sector in Spain.
Transforming refineries into energy parks.
To implement this new strategy, Cepsa will focus on converting its refineries into diversified and sustainable energy parks. These facilities are strategically located in southern Europe, near major ports, providing large industrial customers with privileged access to key markets.
Similarly, the company will implement technologies based on artificial intelligence and advanced analytics to optimize its processes and reduce the environmental impact of its industrial centers' activities.
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, of which 1,5 GW are already connected to the grid.
