EIB and Cepsa sign €285 million loan to finance the construction of biofuels plant

The European Investment Bank (EIB) and Cepsa sign a €285 million loan agreement for the construction of an advanced biofuels plant to be located next to the La Rábida Energy Park in Palos de la Frontera, Andalusia.
The plant, which Cepsa is building together with Bio-Oils, will produce sustainable aviation fuel (SAF) and renewable diesel (HVO), from organic waste such as used cooking oil or from agricultural waste,
advancing the circular economy. Once operational, the facility is expected to process as much as 600,000 tonnes of waste and produce up to 500,000 tonnes of second-generation biofuels annually.
The biofuels will serve industries such as, aviation, maritime transport and even heavy-duty road transport for which decarbonisation and electrification pose challenges. Biofuels are an immediate solution to reduce CO2 emissions from this sector, without making changes to existing engines.