PKN Orlen to spend over EUR 5.6 bln on CO2 emissions reduction by 2030

PKN Orlen to spend over EUR 5.6 bln on CO2 emissions reduction by 2030 Tytus Żmijewski/PAP

Polish fuel firm PKN Orlen estimates that capital expenditure on projects to reduce CO2 emissions will amount to over PLN 25 billion (EUR 5.6 bln) by 2030, the group has announced in a press release.

The funds will be spent on energy efficiency projects, investments in offshore wind farms, renewable energy sources on land, as well as on a portfolio of biofuel investments.

The company plans to reduce CO2 emissions in its current refining and petrochemical assets by 20 percent and in the energy sector by 33 percent CO2 per MWh of electricity produced.