Renewable energy sources play an increasingly important role in today’s energy mix. Also, the legal regulations of certain countries have been significantly tightened when it comes to fossil fuels and their environmental impact. That is why energy transition and green energy are increasingly important. Companies that recognize the importance of renewable energy sources and actively invest in them not only support the fight against climate change but also create competitive advantages in the market.
At the same time, investing in green energy contributes to the creation of a healthier and more sustainable environment but also stimulates the development of new technologies and innovations. Through these activities, companies not only improve their business but also significantly contribute to the preservation of natural resources for future generations. Their strategic action confirms that sustainability and economic development are inseparable, and the green agenda is the key to the survival and progress of the entire society.
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Environmentally oriented business initiatives
That is why a large number of energy companies implement significant projects in the field of renewable energy sources. This trend is also followed by domestic companies. One example is the company NIS, which, in the last two years, implemented a project to build solar power plants at its refueling stations and other facilities, such as the Jazak water factory. NIS has specifically invested in the energy transition, focusing on building capacities for producing electricity from renewable sources. The project was primarily implemented at refueling stations, so solar panels were installed at as many as 45 refueling stations by July 2023.
These power plants produce about 1,600 MWh annually, which reduces the company’s electricity costs by about 230,000 euros. At the same time, carbon dioxide emissions are significantly reduced at these facilities—by as much as 1,700 tons per year. According to NIS, the development of innovative solutions that contribute to environmental protection and, at the same time, increase energy efficiency in the field of energy saving are one of the basic elements of the company’s business strategy. Since 2009, the company has invested more than 900 million euros in environmental projects and business initiatives that indirectly improve the environmental picture in our country, of which more than 130 million euros are directed to environmental initiatives.
In 2023 alone, 801.8 million dinars were invested in implementing ecological projects. Thanks to significant investments in the implementation of the green agenda through business processes, NIS reduced direct carbon dioxide emissions by 6 percent last year. In addition, NIS continuously improves equipment and facilities with the aim of optimizing energy consumption and reducing the emission of harmful gases, the key causes of climate change. Thus, in the Pančevo Oil Refinery, a deep processing plant was put into operation, with the operation of which the production of fuel oil with a high sulfur content was abolished, which led to a reduction of sulfur dioxide (SO2) emissions by as much as 98.8 percent.
NIS
The story was published in the Energy portal Magazine RESPONSIBLE BUSINESS
