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Energy

EP Infrastructure sets 2030 as target to abandon coal

1 minute read

PRAGUE, May 13 (Reuters) - Czech EP Infrastructure (EPIF) aims to abandon coal by 2030 and to become carbon-neutral by 2040, the utility company said on Thursday.

The company, which uses coal in its heating plants, said it aimed to beat the European Union's objective to reach carbon neutrality by 2050.

"Our long-term goals are supported by a clear decarbonisation roadmap, setting us on a path to reduce CO2 emissions from our existing heating plants by 60% already by 2030," it said.

Besides heating, the company operates gas transmission, gas and power distribution and gas storages.

EPIF is controlled by Energeticky a Prumyslovy Holding (EPH), with a 69% stake, and by a consortium of institutional investors managed by Macquarie Infrastructure and Real Assets.

The company reported core operating profit (EBITDA) of 1.6 billion euros in 2019.

Reporting by Robert Muller; editing by David Evans

Our Standards: The Thomson Reuters Trust Principles.

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