RE:RE:20% returncantstandcash1 wrote: Suncor has over 100MW of wind power farms already and has more planned for southern Alberta.
SU and Atco have also put forth a major proposal for world class Hydrogen facility expected operational by 2028. Much of that project should be government subsidized and a lot of that hydrogen they will be able to utilize internally until the market grows. with 23years of reserves they have the time to wind down reserves and pivot to become THE Hydrogen producer in Canada. Focus needs to be getting the debt down over the next 5 years to allow room to develop that pivot in the next 5-10 years.
Good points
I didn't say that SU wasn't in the renewable energy business. My point is that that they need to do a couple of things..
1...use their cashflow to get into it in a big way...100MW is small potatoes
2...advertize that this is their long term plan and make it clear to the investment community that they will be transitioning to a renewable energy company and in the same way while they are doing great things in terms of GHG and ESG their communications strategy in this regard needs to be much much better since the AOCs of the world are still calling them dirty oil. IMO they need to get better communications experts on the payroll or as consultants.
What I hope their strategy is is to take advantage of the ownership redistribution and cheap SP in the short run and then starting next year have a plan to use a lot of the NCIB money they don't need to spend anymore by buying into renewable energy projects around the world and increase the dividend.