EPH Group to invest more than EUR 2.4 billion in a carbon-free future, aiming carbon neutrality by 2050
22. 7. 2022
- EPH Group reduced CO2 emissions by 38% and SO2 emissions by a full 70% compared to 2015
- EPH Group increased heat production from renewable sources by 20% year on year
- Net electricity generated by EPH Group from renewable sources totalled 3.959 GWh last year, 8% more than in the previous year
In 2021, the second pandemic year and a year of unprecedented price fluctuations in commodity markets, EPH Group proved that even in the most difficult circumstances, it fulfils its essential role – to ensure stable transport and supply of commodities and energy to all its European customers. And in the most environmentally friendly and sustainable way. Compared to 2015, EPH Group reduced its overall carbon footprint by 38% and generated 8% more energy from renewable sources year on year. Since 2015, EPH Group has reduced its SO2 emissions by 70% while increasing electricity generation. In 2021, total SO2 emissions decreased by 9% compared to the previous year. Since 2017, EPH has reduced its methane emissions by 16%.
“By 2050, we will be carbon neutral. By 2030, our CO2 emissions will be reduced by 60% compared to the emissions we produced in 2021. In addition to the accelerating transition from coal to natural gas and biomass, we are looking for opportunities in the renewables segment. These efforts are mainly concentrated in the subsidiary EP New Energies, which specializes in the development of large-scale renewable energy projects using mainly former mining sites in Germany. Since its inception in 2019, EP New Energies has built several large-scale and, above all, sustainable projects and has additional wind, ground-mounted, rooftop and floating photovoltaic and hybrid projects of more than 3.000 MW in the pipeline,” says Daniel Křetínský, Chairman of the Board and CEO of EPH.
Last year, EPH shut down the coal-fired power stations Deuben, Buschhaus, Provence 5 and two units of the Jänschwalde power station. Next year, the coal and oil-fired units at the Kilroot power station in Northern Ireland will be replaced by state-of-the-art natural gas combustion technologies (OCGT), primarily to provide capacity and network stability services. Also, investments of hundreds of millions of Euros have been launched in state-of-the-art combined-cycle gas turbine power plants ready for future hydrogen use in Tavazzan and Ostiglia (both in Italy) and additional units providing capacity and grid stability services in Tynagh (Ireland) and Leipheim (Germany) to provide energy when it cannot be supplied from renewable sources. EPH Group has already invested or committed to invest more than EUR 2.4 billion in the coming years to build a path to carbon neutrality and energy independence in Europe. It also operates advanced battery storages in Germany and the UK. New projects with a low carbon footprint create jobs in the energy sector, thus demonstrating that environmentally responsible, reliable and affordable energy supply must go hand in hand with social justice and job continuity.
“Sustainable energy production from renewable sources will require flexible energy production capacities and efficient large-scale energy storage technologies. In the initial transition period, this role could be fulfilled by natural gas, subsequently replaced by hydrogen and other gases from renewable sources. All our new gas-fired power plant projects are built using the best available hydrogen technologies. We are convinced that thanks to our strategically located natural gas transportation, distribution and storage infrastructure and our technological know-how along with our leadership in power and heat generation, we are able to become a European leader capable of delivering comprehensive and highly competitive hydrogen solutions of pan-European significance,” adds Daniel Křetínský.
The full version of the EPH Sustainability Report with many interesting case studies can be found here.