CEPSA, one of Mubadala’s most significant portfolio companies, is one of the leading integrated energy companies in Spain with operations in over 20 countries across four continents. In 2023, the company radically reenvisaged its business through its Positive Motion strategy as part of its approach to becoming a leader in the production of green hydrogen and biofuels, with a bold plan to have a net positive climate impact by 2050.
As part of this goal, CEPSA is targeting 2030 for the development of a portfolio of solar and wind projects with a capacity of 7 GW to help meet the company's energy consumption needs. The company has made significant progress to date, with 1.5 GW currently connected to the grid in Spain and Portugal via twelve photovoltaic solar energy projects in the communities of Andalusia, Castilla-La Mancha, and Madrid. Once operational, these facilities will provide an estimated annual energy output of 3,200 GWh, projected to save annual emissions of 1,274,000 tonnes of CO2.
This renewable energy will power the production of green hydrogen in the Andalusian Green Hydrogen Valley, led by CEPSA in southern Spain. CEPSA is also developing the first green hydrogen maritime corridor between southern and northern Europe, connecting the ports of Rotterdam and Algeciras. The corridor will help to create a renewable energy supply chain to decarbonize industry and maritime transport in Rotterdam, which has some of the highest energy demand in Europe. After reaching the Rotterdam port, green hydrogen can be distributed by pipeline to reach a large number of industrial companies located in the center and north of the continent.
In line with Mubadala’s core mandate to drive positive change where we deploy capital, we are continuing to support CEPSA as it builds a low-carbon business.
