Heaven Petroleum invests in jatropha

In Peru, biodiesel producer Heaven Petroleum Operators SAC is to invest $186 million (€130 million) in jatropha cultivation.

Heaven Petroleum's subsidiary Bio Agro Heaven del Sur SAC will develop the project, which will take place on 50,000 hectares of land in Ica region.

The jatropha grown under the project will then be used in the production of biodiesel at the company's biodiesel plant in Lurin district.

Heaven Petroleum is gearing up to purchase the first 14,000 hectares. Once the acquisition has closed, the jatropha cultivation will begin straight away and it is hoped the first batch of biodiesel will have been produced within eight months.

The size of the plantation is expected to reach 50,000 hectares within 10 years.

Heaven Petroleum is expecting to gain 3.7 tonnes of jatropha per hectare per annum, resulting in 1,235 gallons of biodiesel.