Spain's Grenergy adopts 2040 net zero target

Spanish renewables developer-operator Grenergy Renovables SA (BME:GRE) on Friday announced that it has approved its net zero strategy, committing to achieving carbon neutrality by 2040.

The company said that it will work to reduce greenhouse gas emissions across scope 1, 2 and 3, aiming to reach 100% renewable electricity consumption in its projects and gradually replace current construction vehicles with electric ones.

Grenergy also plans to “actively seek” to incentivise decarbonisation in the supply chain to cut scope 3 emissions, it said.

"We calculate and verify our carbon footprint annually. In this way, we can identify opportunities for improvement and establish an ambitious plan to continue being pioneers in achieving decarbonization and allies of reference in the energy transition,” commented Rocio Fernandez, Grenergy's sustainability director.

Grenergy builds and operates wind and solar farms in Europe and Latin America. The company's total operational capacity stood at 765 MW at the end of the third quarter of 2023.

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