Cepsa teams up with Apical to build €1 billion biofuel plant
This will be done through its renewable energy subsidiary Bio-Oils located in Huelva, Spain.
The joint venture will entail an investment of up to €1 billion, one of the largest private investments in the history of the southern Spanish region of Andalusia.
The alliance marks Apical’s entry to the sustainable aviation fuels (SAF) market and a key milestone in RGE’s strategy to produce a range of fuels to decarbonise aviation, maritime and land transportation.
Apical, a leading vegetable oil processor, is a member of the Singapore-headquartered RGE group of companies.
Dato' Yeo How, President of Apical, said: “Apical’s ample supply of high quality second generation feedstock is key to ensuring that the new joint venture delivers on our shared vision to reduce greenhouse gas emissions across air, sea and land transport.
“The wider use of SAF and renewable diesel provides significant benefits on a global scale, both in terms of mitigating the effects of climate change and promoting sustainable economic growth. Apical, through Bio-Oils, will ensure the supply of raw materials and contribute our own expertise in biofuels production.”