Spain's Cepsa teams up with Apical to build $1-B biofuels plant
(Reuters) - Spanish oil company Cepsa teamed up with vegetable oil processor Apical Group’s Bio-Oils unit to build a second-generation biofuels plant in southern Spain, a $1.11-B project.
The plant, set to start operating in 2026, will be Southern Europe’s largest, the Spanish company said on Friday. It will have a capacity of 500,000 tons of renewable diesel and sustainable aviation fuel (SAF) per year using organic waste, such as used cooking oils. Biofuels are seen as key to decarbonize transportation in sectors hard to electrify, like aviation.
Building and operating the facility, which will be in the southern Spanish region of Andalusia, will create around 2,000 direct and indirect jobs and save 1.5 million tons of CO2 emissions per year, Cepsa said.
The project will help the oil company achieve its goal of producing 2.5 million tons of biofuels by the end of the decade.
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