The energy company located in Calgary said they still intend to achieve net-zero emissions by 2050. Suncor also said they will be getting rid of its wind and solar assets. The company explained that its strategy for hitting the 2050 goal is also focused on increasing shareholder returns.
Suncor said that it has developed eight wind power projects since 2002 in three provinces including Saskatchewan, Alberta and Ontario. In a news release Monday, the company plans to have net-zero emissions by 2050 and will accelerate progress towards hydrogen and renewable fuels instead.
The company will be replacing coke-fired boilers at its Base Plant oil sands project near Fort McMurray, Atlanta. Instead they will be using lower emission cogeneration units and accelerating commercial scale deployment of carbon capture technology.
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