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Industry News » Abu Dhabi’s Spanish refiner aims to be global hydrogen behemoth

Cepsa SA, the Spanish refiner controlled by Abu Dhabi’s sovereign wealth fund, announced a sweeping clean-energy strategy as the European oil industry races to find new fuel sources.

In an attempt to differentiate itself from other European oil firms that have announced similar transitions, Madrid-based Cepsa will focus on developing energy for heavy transportation and industries. This includes green hydrogen and biofuels for trucking, shipping, airlines and other industries, according to Chief Executive Officer Maarten Wetselaar.

“We have decided to take on the toughest challenge to de-carbonize,” Wetselaar said during a strategy presentation Wednesday in Madrid. “The solution is not as clear” for heavy industry and heavy transports, he added. 

Cepsa aims to produce 2 gigawatts of green hydrogen by 2030 as well as 2.5 million tons of non-food based biofuels, according to Wetselaar.

    

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