Suncor to divest wind and solar assets as it focuses on hydrogen and renewable fuels

April 5, 2022 |

In Canada, Suncor will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Optimizing the portfolio to drive shareholder returns and continue to reduce emissions requires focus and discipline. Therefore, Suncor plans to divest its wind and solar assets.

Suncor’s strategy is focused on increasing shareholder returns and accelerating its progress to be a net-zero company by 2050. In support of this objective, Suncor is focusing its efforts in areas that are complementary to its base business including replacing coke-fired boilers at Base Plant with lower emission cogeneration units and accelerating commercial scale deployment of carbon capture technology. Other targeted activities include partnering with ATCO on a project to build a world-scale hydrogen project in Alberta and deploying next generation renewable fuel technologies like Lanzajet’s sustainable aviation fuel technology and Enerkem’s waste to fuels technology. 

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Category: Fuels

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