Cepsa announced this Wednesday the change of its name to moeve. This is a change that the company describes as “historic” in the transformation to aspire to be a benchmark in the energy transition in Europe. Thus, the Spanish Petroleum Company, SAU (CEPSA), the name under which it was created in 1929, is transformed to accompany the company’s turn towards decarbonization.
The change is the result of your strategy Positive Motion to 2030 based on the commitment that the energy company claims to have with sustainable energy and mobility.
This change, as reported the company itselfresponds to its objective of accelerating its decarbonization and that of its clients, through an investment of up to 8 billion euros, of which more than 60% will be allocated to sustainable businesses, such as the production of
green hydrogen, second generation (2G) biofuels and sustainable chemicals, as well as ultra-fast electric recharging.
Alliance ecosystem
Since the launch of your strategy Positive Motion In March 2022, the company has advanced projects and developed a
ecosystem of alliances with more than 60 companies from various sectors to promote the different value chains and the implementation of these projects.
The company is developing the Andalusian Green Hydrogen Valley, the largest project presented to date in Europe, which in 2030 expects to have a capacity of 2,000 MW, according to Cepsa.
Furthermore, it has promoted the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam to unite southern and northern Europe and is working on the development
of new green methanol and ammonia plants together with its partners.
Cepsa develops what will be the largest 2G biofuels complex in southern Europe, located in Palos de la Frontera (Huelva),
with an annual production capacity of one million tons of
sustainable aviation fuel (SAF) and renewable diesel (HVO).
Currently, Moeve already markets these sustainable fuels in seven of the main Spanish airports and in more than 60 ports in the country in which it operates.
The energy company is also advancing with its partners in the development of about 30 biomethane plants in Spain and projects to recover waste for the production of this biogas, a substitute for natural gas.
In addition, the network of service stations moeve It already has more than 160 ultra-fast charging points in operation and expects to end the year with 400 built, for the development of one of the largest ultra-fast electric charging networks in Spain and Portugal as a whole.
In parallel, it is carrying out an ambitious transformation of the points of contact with customers, expanding its offer of energy alternatives, as well as new restaurant, package collection and store services.
The company also reports that it is transforming its portfolio of chemical products towards increasingly sustainable solutions. Specifically, it already produces and markets LAB (base for the manufacture of biodegradable detergents) and phenol from raw materials and renewable energy sources. In addition, it is building an isopropyl alcohol (IPA) plant in Huelva, the base for the manufacture of hydroalcoholic gels, which will be the first facility of this type in Spain that uses green hydrogen and is capable of replacing raw materials of fossil origin with materials sustainable.
This year the company has announced the sale of its exploration and production assets in Colombia and Peru, after the divestment carried out in Abu Dhabi in 2023, which represents the sale of about 70% of its oil production assets compared to 2022.
In this sense, the company also announced last August the sale of its butane, propane and autogas subsidiary (Gasib).
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