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    Redexis to invest 1 billion up to 2026 in infrastructures for the energy transition


    September 6, 2022 - CE Noticias Financieras

     

      Redexis has presented this Tuesday'Energía26', its strategic plan for the next five years (2022-2026) and in which investments of more than 1,000 million are contemplated to intensify its growth in the deployment of sustainable infrastructures and energy transition, as reported by the company in a statement.

      The company's objective is to increase its gross operating profit (Ebitda) by 50% in the period, in addition to achieving growth in all its business segments "despite the current complex macroeconomic and energy environment", that is, both in the traditional sector (gas and mobility) and in new energies (biomethane, hydrogen and energy efficiency), while supporting "security of supply, emissions reduction and economic competitiveness".

      The new strategy is focused on the growth of the gas infrastructure business, the development of renewable gas projects and the promotion of energy efficiency for its customers, including solar self-consumption.

      Thus, it will promote the deployment of gas networks adapted to renewable gas and will seek to promote more efficient mobility. "The company is committed to medium-term growth potential, both in the residential and industrial segments, given the presence of more polluting fossil fuels with higher greenhouse gas emissions that can be replaced by natural gas and, later on, by gas from renewable sources," Redexis stressed.

      In this context, the energy company currently operates in 14 Spanish autonomous communities and has around 12,000 kilometers of its own infrastructures.

      Meanwhile, in the field of mobility, it has 25 gas stations and the objective set out in the plan is to reach 60, focusing on liquefied natural gas (LNG) for long-distance transport fleets and compressed natural gas (CNG) for service fleets.

      Renewable gases

      'Energy26' also envisions Redexis directly injecting biomethane into its distribution network and vertically integrating into production, "thus contributing to decarbonization and meeting the objectives of the circular economy by taking advantage of existing waste."

      The objective in this segment aims to have around 15 biomethane production plants for injection and around 60 biomethane injection facilities for third parties.

      "We plan to transport and/or produce 3 TWh (terawatt hours) in five years, i.e. 10% of the gas transported by our network, which is equivalent to 50% of the gas consumption of our residential segment", said Redexis' CEO, Fidel López.

      The company also aims to be part of 10 green hydrogen projects built and operating by 2026.

      First green hydrogen product in Spain

      In fact, the first one will start its operation "imminently", since the company plans to complete in 2022 the construction of the first green hydrogen in Spain and the first to inject hydrogen into a natural gas transport and distribution network.

      "This is the 'Green Hysland' project in Mallorca, which is already producing renewable hydrogen from solar energy at the Lloseta plant and which includes a green hydrogen ecosystem (production, transport, direct consumers, hydrogenerators...) on the island," the company explained.

      On the other hand, in 2026 Redexis aims to develop 190 megawatt hours (MWh) of solar self-consumption focused on the 'B2B' segment (business to business) and also to continue collaborating with its customers in the development of solutions, for example, in the field of cogeneration, to improve energy efficiency and reduce emissions from their facilities.

      In terms of ESG (environmental, social and governance criteria), the company's strategy includes a commitment to reduce its direct carbon footprint by 50% by 2026 and to fully offset its total emissions.

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