CEPSA: CEPSA WILL INVEST 400 MILLION EUROS IN THE CANARY ISLANDS TO LEAD ELECTRIC MOBILITY AND PROMOTE THE DECARBONIZATION OF THE ISLANDS

Cepsa, which started its activities in 1930 in the Canary Islands, will invest 400 million euros during this decade to lead the energy transition and become the great leader of electric mobility in the Islands. The company will therefore strengthen its position as the leading energy supplier in the archipelago by transforming its activities so as to continue to secure the supply of energy to the Canary Islands, provide greener and more sustainable energy, and accelerate the transition to sustainable mobility.

In Cepsa’s new strategy, ‘Positive Motion’, the decarbonization of road transport and the mobility of the end customer play a fundamental role. Over the next 12 months, the company will install 100 ultra-fast 150 kW chargers in more than half of its establishments in the Islands; and, by 2024, it expects to have these devices in all of its Service Stations in the Region.

Cepsa, the foremost supplier of fuel to all the ports and airports of the Region, will also market second-generation biofuels in the Islands to decarbonize sectors as important for the Canary Islands as air and maritime transport, while promoting the circular economy.

With the aim of promoting sustainable tourism, the company is developing an ecosystem of partnerships to promote sustainable tourism in the islands and offer global solutions to its customers. In the aviation sector, Cepsa has reached agreements with the major airlines operating out of the Canary Islands airports: Binter, Iberia, Iberia Express, and Air Nostrum, to promote the development of and research into sustainable aviation fuels (SAF). These fuels are produced from circular raw materials that do not compete with food, such as used cooking oils, non-food animal waste, and biodegradable waste from a variety of industries. Compared to conventional fuel, SAF can reduce aviation emissions by up to 80% over conventional kerosene.

In order to continue to secure the supply of energy and facilitate the energy transition of the Islands, the company will build a strategic, digitized logistics infrastructure in the Port of Granadilla, which will allow energy transit and the distribution of all types of fuels, including biofuels. Cepsa has a concession in this port, which is located in the south of the island of Tenerife, where it will install this new terminal. It will become operational in 2025 and will have a capacity of 121,500 m3, of which more than half will be used for the storage of aviation fuels.

During his visit to the Canaries, Maarten Wetselaar, Cepsa’s CEO, said:

“We have a historic commitment to driving the energy transition of the Canary Islands. As a leader in the Islands’ energy sector, our ambition is to continue contributing to their social and economic development by securing the supply of energy and providing increasingly cleaner energy, through the largest ultrafast electricity charging network in the archipelago and the supply of green molecules, essential for the decarbonization of sectors as important for the Canary Islands as tourism, air, and maritime transport”.

Maarten Wetselaar – Cepsa’s CEO