Spain-based energy company Repsol will invest €80 million to build two new low-emission refineries in Spain as part of its goal to reduce its carbon emissions, the company said on Monday.
Repsol said the first project involves building one of the world’s largest refineries to manufacture net zero emissions fuels, using CO2 and green hydrogen generated with renewable energy.
It said the second project would involve the generation of gas from urban waste, which will replace part of the traditional fuels used in the production process.
"Both initiatives - innovative, sustainable, and generating high added-value - anticipate the refinery of the future and represent an important impetus to technological and industrial development that is essential in the current context of economic recovery," Repsol said.
The company's CEO Josu Jon Imaz San Miguel said that Spain must base its decarbonization strategy on its technological and industrial capabilities.
"The production of green hydrogen and its combination with the capture and use of CO2 to produce net zero emissions fuels is part of Repsol’s industrial decarbonization strategy. With this project, Spanish industry positions itself to be a relevant European player in reducing emissions," he said.
By Murat Temizer