Swiss utility to invest CHF 1bn in green transition

Swiss utility ewl energie wasser luzern, which operates in the region of Lucerne, is planning to invest more than CHF 1 billion (USD 997m/EUR 1.01bn) in green energy and district heating as well as solar plants and intelligent meters to shift away from fossil fuel by 2040.

A detailed presentation for the transition to climate-friendly heating solutions will be published with the urban energy planning 2.0 in the spring of 2023, ewl said on Tuesday.

The utility has already invested CHF 330 million in sustainable heat supply and continues its decarbonisation drive as it seeks to supply Lucerne with 100% renewable heat by 2040. Ewl is currently supplying 3,700 households in the centre of Lucerne with renewable energy and will continue to expand the network to the districts of Kleinstadt, Tribschen and Wuerzenbach.

In addition, the company will spend around CHF 20 million to expand solar power generation in the city by 2040. The electricity from the planned solar systems will be enough to cover the energy consumption of around 5,000 households.

The company aims to be an energy service provider that plans and finances solar systems on municipal buildings, said chief executive Patrik Rust. With its self-consumption models, ewl also ensures that the energy from its customers' solar systems is used in an optimal way.

Ewl supplies electricity, gas, water and heat to the Lucerne area. In 2021, as much as 81.8% of the electricity distributed by the company was from renewable energy with more than half of it coming from hydropower.

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