ENDESA Has Reduced its CO2 Emissions in Spain by 27.5% since 1990; At the Same Time its Electricity Output Has More Than Doubled
NEW YORK, May 20, 2005 -- BUSINESS WIRE
ENDESA (NYSE:ELE)
-- ENDESA's target is to reduce specific CO2 emissions by 35% in 2007 compared to 1990 levels, the benchmark year for determining the Kyoto commitments.
ENDESA's (NYSE:ELE) specific emissions in Spain stood at 507 grams of CO2 per kWh in 2004, representing a fall of 27.5% compared to 1990. The company achieved this reduction despite increasing output by 120% over the same period and therefore overall total emissions rose from 33.4 million tones to 54.8 million.
It is worth recalling that ENDESA's generation mix includes a high level of installed fossil fuel capacity. These thermal plants regularly register high annual utilisation rates, and serve to guarantee a signification portion of the country's electricity needs, especially during periods of sudden drops in rainfall which are not uncommon in Spain. These circumstances demonstrate the significant effort required on the part of the Company to increase energy efficiency to achieve the aforementioned reduction in emissions.
The significant reduction in ENDESA's specific CO2 emissions is the result of fulfilling its environmental strategy and coincides with the first year of application of the National Allocation Plan (NAP) for emission rights approved by the Spanish government to meet Kyoto provisions. It is worth recalling that 1990 was adopted as the benchmark year for setting these commitments.
ENDESA's strategy during this first phase of application of the NAP is to contribute to the country's environmental targets, while at the same time guaranteeing the electricity supply on suitable safety and cost terms.
ENDESA's climate control strategy
ENDESA's climate change strategy is based on a broad range of initiatives aimed at reducing greenhouse gas emissions by enhancing energy efficiency through Clean Development Mechanisms (CDM), participation in Carbon Funds, the development of research projects related to capturing CO2, etc.
In February of this year, the ENDESA became the first Spanish company to present and receive authorisation for a CDM project from the Spanish Office for Climate Control.
In addition, it has been a member for two years of the World Bank's Community Development Carbon Fund and it spearheaded the creation of the Spanish CO2 Foundation, set up with the purpose of promoting research projects in relation to the process of capturing, confining and transforming CO2, and of which it is currently one of the most active members.
The target of ENDESA's climate change strategy is to achieve a 35% reduction in specific CO2 emissions by 2007 as compared to 1990.
The Company's Strategic Plan for the Environment and Sustainable Development: 2003-2007 and its New Capacity Program: 2005-2009, which envisages the installation of 7,200 MW of new capacity, 77% of which will come from CCGTs and facilities using renewable energies, will both make significant contributions to this target.
* This document may contain certain forward-looking statements regarding anticipated financial and operating results and statistics that are subject to risks and uncertainties as well as to material risks, changes and other factors which may be difficult to predict, including, without limitation, those factors described in the Folleto Informativo Continuado of Endesa filed within the Comision Nacional del Mercado de Valores and in the Form 20-F of Endesa filed within the Securities and Exchange Commission, both for the fiscal year ended December 31, 2003. For all of these forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: ENDESA
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