U.S. Pipeline Operator Energy Transfer to Tap into Alternative Energy
(Reuters) — Energy Transfer LP said it had created a new business to ramp up efforts to develop alternative energy projects, as the pipeline operator aims to reduce its carbon footprint.
Traditional oil and gas companies are under increasing pressure to invest more in renewable energy and carbon-capture technology to battle climate change.
Energy Transfer's Alternative Energy Group will focus on renewable energy projects including solar and wind farms, either as a power purchaser or in partnership with third party developers, and will be led by the company's general counsel, Tom Mason.
The company said it would also look to develop renewable diesel and renewable natural gas opportunities, adding that these potential projects could involve the utilization of Energy Transfer's pipeline system.
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