GENESIS ENERGY LIMITED Genesis is pleased to see that the ERP discussion document recognises a national energy strategy is an important foundation for decarbonising New Zealand and that electricity has a key role to play as part of that. We would like to see Government move quickly to define a long-term national energy strategy with a strong commitment to a more renewable energy system supported by clear policies developed in collaboration with business. We believe a focus on carbon intensive areas such as process heat and transport should be a priority, recognising the opportunity for electricity to support a lower carbon Aotearoa.
We believe setting an ambitious renewable energy target will enable New Zealand to leverage the benefit of its already highly renewable electricity as a source of strategic advantage.
The electricity sector is well positioned to be the engine room for the country's transition to a low carbon energy future with multiple new investments in renewable electricity projects announced this year. This is reflected in Genesis' own Future-gen strategy to displace 2,650GWh per annum of thermal generation with new renewable electricity generation by 2030 and our commitment to remove at least 1.2m tonnes of carbon emissions by 2025 (Scope 1, 2 and 3) tied to the international benchmark of limiting global warming to below 1.5°C.
We look forward to working with Government to ensure the right settings are in place to maximise the opportunity electricity presents.
The above comments can be attributed to Genesis CEO Marc England.
Media enquiries:
Estelle Sarney, External Communications Manager
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Genesis Energy Limited published this content on 13 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2021 05:01:02 UTC.
