Suncor says so long to wind and solar assets
Suncor says it is getting rid of its wind and solar assets, shifting its focus to hydrogen and renewable fuels.
The Calgary, Alta.-based company says it still intends to be net-zero emissions by 2050, but will accelerate progress towards that target by moving in this new direction, utilizing a strategy for hitting the 2050 goal that is focused on increasing shareholder returns.
The company has developed eight wind power projects since 2002 in three provinces: Saskatchewan, Alberta and Ontario.
Suncor’s efforts to hit the 2050 net-zero goal also include replacing coke-fired boilers at its Base Plant oil sands project near Fort McMurray, Alta., with lower emission cogeneration units, as well as accelerating commercial-scale deployment of carbon capture technology.
The company is also partnering with ATCO on a project to build a world-scale hydrogen project in Alberta, deploying next-generation renewable fuel technologies like LanzaJet’s sustainable aviation fuel technology and Enerkem’s waste-to-fuels technology.