June 25, 2021 Read More →

PSEG speeds up net-zero goal by 20 years to reach target by 2030

Reuters:

Diversified New Jersey power and gas company Public Service Enterprise Group Inc (PEG.N) said Thursday it has accelerated its net-zero greenhouse gas ambitions to 2030 from 2050.

The new target from the group, whose assets include New Jersey’s largest gas and electric utility, is one of the most aggressive net-zero goals set by any energy company in the world, most of which have plans to reach net-zero by 2050.

PSEG is in the process of selling its non-nuclear fleet, including 6,750 megawatts (MW) of fossil generation, while exploring investments in offshore wind. One megawatt can power about 1,000 U.S. homes.

PSEG has already partnered with Danish energy company Orsted A/S (ORSTED.CO) on 25% of the 1,100 MW Ocean Wind offshore wind project in New Jersey.

The company’s pivot to 100% carbon-free generation is in line with U.S. President Joe Biden’s goal of decarbonizing the country’s electric sector by 2035.

[Scott DiSavino]

More: U.S. PSEG accelerates net-zero climate goal to 2030 from 2050

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