Public Service Enterprise Group Inc. on Feb. 28 released its 2017 Sustainability Report, detailing plans to eliminate 13 million tons of carbon dioxide-equivalent emissions by 2030.
Public Service Enterprise Group, or PSEG, previously targeted to reduce greenhouse gas emissions by 25% from its 2005 levels by 2025, which the company achieved in 2011. PSEG's new goal of reducing 13 million tons of emission is equivalent to removing 2.8 million cars off the road.
To add cleaner resources to its portfolio, PSEG also plans to invest more than $1.5 billion in solar energy and improve its underground natural gas distribution system, which it said will cut down 122,000 tons of greenhouse gas emissions per year. Other parts of the plan include maintaining New Jersey's nuclear fleet and energy efficiency programs.
In July 2017, PSEG utility Public Service Electric and Gas Co. proposed an investment of $2.7 billion over a five-year period, for the replacement of aging gas pipes at an accelerated pace. The company is currently building three new combined-cycle gas plants: the 540-MW Sewaren 7 facility in Sewaren, N.J.; the 755-MW Keys Energy Center in Maryland; and 485-MW Bridgeport 5 facility in Connecticut.
PSEG also expects to invest $6 billion over the next five years for the improvement of the company's electric transmission system, according to the sustainability report.
