Suncor Energy Inc plans to divest its wind and solar assets and turn its focus to hydrogen and renewable fuel in its efforts to become a net-zero company by 2050.
Since first partnering with Enbridge Inc 20 years ago on one of Canada’s first renewable energy projects, Suncor has developed eight wind power farms in Saskatchewan, Alberta and Ontario.
The company said in order to meet its goal to become a net-zero company by 2050 it intended to focus efforts on areas complementary to its core oil and gas business. These include replacing coke-fired boilers at its oilsands Base Plant facility with lower emission cogeneration units and accelerating deployment of carbon capture technology.
Suncor also plans to partner with ATCO Ltd. to build a “world-scale” hydrogen project in Alberta.
Last November, Alberta announced a new focus on hydrogen, saying it “can be the next great energy export that fuels jobs, investment and economic opportunity across our province.”
In its strategic road map the province envisions huge growth in global hydrogen consumption, from an estimated 90 million tonnes today, to 700 million tonnes by 2050, a market worth more than $700 billion. That’s about 800 per cent growth from current levels.
You can read more of the news on source
