Repsol to build €188 million biofuels plant as it commits to net zero target
Energy company Repsol is constructing a new production plant for advanced biofuels in Spain.
Repsol will be able to supply 250,000 tonnes of advanced biofuels for aircraft, trucks, and cars from its Cartagena refinery annually.
The €188 million project is part of Repsol's commitment to the energy transition and its goal of achieving net zero emissions by 2050.
Repsol CEO Josu Jon Imaz said: “With this initiative, we at Repsol are decisively promoting a new technological route that will be key in our path towards carbon neutrality.
“It is added to the projects we have already implemented in energy efficiency, low-emissions electricity generation, renewable hydrogen, circular economy, synthetic fuels, and CO2 capture, use, and storage among others.
“Spain must base its decarbonisation strategy on its industrial and technological capabilities, because that will be the way to promote a competitive and innovative business fabric.
“All forms of decarbonisation are valid and complementary and incentivising them so that they can all contribute, without exclusion, will accelerate the energy transition and help us, as a society, achieve a speedy economic recovery, so necessary under the current circumstances of the coronavirus pandemic.”
Repsol will be able to supply 250,000 tonnes of advanced biofuels for aircraft, trucks, and cars from its Cartagena refinery annually.
The €188 million project is part of Repsol's commitment to the energy transition and its goal of achieving net zero emissions by 2050.
Repsol CEO Josu Jon Imaz said: “With this initiative, we at Repsol are decisively promoting a new technological route that will be key in our path towards carbon neutrality.
“It is added to the projects we have already implemented in energy efficiency, low-emissions electricity generation, renewable hydrogen, circular economy, synthetic fuels, and CO2 capture, use, and storage among others.
“Spain must base its decarbonisation strategy on its industrial and technological capabilities, because that will be the way to promote a competitive and innovative business fabric.
“All forms of decarbonisation are valid and complementary and incentivising them so that they can all contribute, without exclusion, will accelerate the energy transition and help us, as a society, achieve a speedy economic recovery, so necessary under the current circumstances of the coronavirus pandemic.”
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