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HomeTop Global NewsRenault plans to use geothermal energy to help heat the plant

Renault plans to use geothermal energy to help heat the plant

Photo of a Renault logo in Bavaria, Germany. The French automotive giant says it is targeting carbon neutrality by 2040 in Europe and 2050 globally.

Igor Golovnyov/SOPA Images | Lightrocket | Getty Images

Renault Group working with french utility angie on the development of a geothermal power project at the automaker’s Douai facility with cooperation scheduled to last 15 years.

In a statement, Renault said on Thursday that a subsidiary of Engie would start drilling operations at Douai – which was established in 1970 And focuses on bodywork assembly – late 2023.

The plan is centered around taking hot water from depths of more than 4,000 meters or 13,100 feet.

According to Renault, this water will be used from 2025 to “help meet the industrial and thermal process needs” of the Douai site. The water temperature will be between 130 to 140 degree Celsius.

“Once implemented, this geothermal technology will provide approximately 40 MW of power continuously,” the company said.

“In summer, when the heat requirement is low, geothermal energy can be used to produce carbon-free electricity,” it added.

Read more about energy from CNBC Pro

Luca de Meo, CEO of Renault Group, described the program planned for Douai as “one of the most ambitious decarbonisation projects on a European industrial site”.

According to the International Energy Agency, Geothermal energy refers to “energy contained in the Earth’s crust or available as heat” that can be used to produce electricity and provide direct heat.

elsewhere, United States Department of Energy Geothermal power “supplies renewable energy around the clock and emits little or no greenhouse gases.”

The news about Renault’s geothermal project with Engie was accompanied by details of other projects centered around decarbonizing operations at several of the automotive giant’s industrial facilities.

Looking at the bigger picture, says Renault It’s targeting carbon neutrality In Europe by the year 2040 and globally by 2050.

Despite these objectives, a top executive of the firm recently told CNBC that the firm saw the internal combustion engine playing an increasingly important role in its business for years to come.

Earlier this month, it was announced the Renault Group and the Chinese firm Geely A non-binding framework agreement was signed to set up a company focused on the development, production and supply of “hybrid powertrains and highly efficient ICEs”. [internal combustion engine] Powertrain.”

Speaking to CNBC’s Charlotte Reed, Thierry Peyton, Renault’s chief financial officer, tried to explain some of the reasons behind the planned partnership with Geely.

“In our view, and according to all the studies we have received, there is no scenario where ICE and hybrid engines represent less than 40% of the market with a horizon of 2040.” “So it’s really … a market that continues to grow.”

Read more about electric vehicles from CNBC Pro

Renault’s continued focus on the internal combustion engine comes at a time when some large economies are looking to move away from vehicles that use fossil fuels.

For example, the UK wants to phase out the sale of new diesel and gasoline cars and vans by 2030. This would require zero tailpipe emissions in all new cars and vans from 2035.

The European Union, which the UK left on January 31, 2020, is pursuing similar goals. In the United States, California is banning the sale of new gasoline-powered vehicles starting in 2035.

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