M2 Capital Sdn. Bhd
Add a review FollowOverview
-
Founded Date April 11, 2008
-
Sectors Τουριστικά
-
Posted Jobs 0
-
Viewed 20
Company Description
Portugal’s Galp Plans to Start Producing Biofuels In 2025
LISBON, Dec 19 (Reuters) Galp Energia anticipates to begin producing biodiesel and biojet fuel from waste in an industrial-scale unit it is constructing at its Sines refinery in 2026, the business, which is primarily an oil producer and refiner, said on Thursday.
Last year Galp got in into a 75%-25% joint endeavor with Japan’s Mitsui to invest 400 million euros ($415 million) in the Hydrogenated Grease (HVO) plant, which will have a production capacity of 270,000 metric heaps each year.
It will transform waste materials, such as utilized cooking oils, into renewable biodiesel and biojet fuel, also known as sustainable aviation fuel (SAF), utilizing green hydrogen produced by an electrolyser powered by wind or solar power.
Galp said in a declaration it got on Wednesday the three reactors to process biofuels, which will allow the HVO system to “produce SAF and biodiesel in 2026 … putting Galp at the forefront of developing low-carbon services essential for the energy shift”.
Galp is also investing 250 million euros in a 100 megawatt (MW) electrolyser unit to produce green hydrogen to power the refinery in Sines. ($1 = 0.9637 euros) (Reporting by Sergio Goncalves;-RRB-
