EIB finances Cepsa's new biofuel facility

Spanish energy firm Cepsa has secured a €285 million ($305 million) loan from the European Investment Bank (EIB) to build a second-generation biofuels plant in Spain.

PHOTO: Cepsa's industrial complex in Palos de La Frontera. Cepsa

Cepsa commenced the construction of its new biofuel plant earlier this year, and it will produce biofuels for bunkering and other outlets.

The plant is expected to produce 500,000 mt/year of waste-based biofuel by processing around 600,000 mt/year of used cooking oil or agricultural waste as feedstock.

The facility will be built in Palos de la Frontera, Huelva in Spain, next to Cepsa’s La Rábida Energy Park. Cepsa has partnered with Bio-Oils, a subsidiary of Indonesian vegetable oil processor Apical, for the project.

“This plant will enable us to take a giant step forward in the production of green molecules, with the aim of facilitating the immediate decarbonisation of land, sea and air transport by reducing CO2 emissions by up to 90% compared with traditional fuels," Maarten Wetselaar, chief executive of Cepsa said.

By Konica Bhatt

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