World’s largest biofuel production facility planned for Panama
A team of companies led by SGP BioEnergy joined the Government of Panama to announce the development of the world’s largest biofuels production and distribution hub.
Once complete in five years, Biorefineria Ciudad Dorada or Golden City Biorefinery, located in Colon and Balboa, Panama, will be the largest advanced biorefinery and sustainable aviation fuel (SAF) production platform in the world producing 180,000 barrels per day (2.6 billion gallons per year) of biofuel.
“Transportation makes up 27% of greenhouse gas emissions and the only way to decarbonize many sectors – like aviation – is to integrate fossil fuels with compatible biofuels,” said Randy Delbert Letang, CEO of SGP BioEnergy. “This facility not only brings cleaner fuels online in the short term, but its construction at a central hub of global commerce, serving over 1,000 ports, catalyses the industry in the long term by immediately delivering a lower cost of biofuels, reducing food waste and revolutionizing farm economics.”
Developed in partnership with private landowners, Panama Oil Terminals (POTSA) and the government of Panama, this project will repurpose existing facilities currently processing and storing 70% of the country’s bunker fuel oil to the refinement and storage of biofuels derived from purpose grown plant oils, and waste fats and greases.
It will immediately reduce the carbon output of the facility by 80%, revolutionising the economics in the region and supporting more than 1,000 high paying jobs.
“Our country welcomes this biofuels production and logistics facility that will help Latin America and the world in the energy transition and contribute to climate change innovation. Panama’s unique geographic position, existing logistics platform, and special economic zones make it the perfect place for this facility. We are very excited about the 1,000 jobs this investment will generate for the people of Colon and Panama. In addition, it has the potential to stimulate Panama’s agricultural sector by producing bioenergy stock feeds locally,” said Laurentino Cortizo, President of the Republic of Panama.
Once complete in five years, Biorefineria Ciudad Dorada or Golden City Biorefinery, located in Colon and Balboa, Panama, will be the largest advanced biorefinery and sustainable aviation fuel (SAF) production platform in the world producing 180,000 barrels per day (2.6 billion gallons per year) of biofuel.
“Transportation makes up 27% of greenhouse gas emissions and the only way to decarbonize many sectors – like aviation – is to integrate fossil fuels with compatible biofuels,” said Randy Delbert Letang, CEO of SGP BioEnergy. “This facility not only brings cleaner fuels online in the short term, but its construction at a central hub of global commerce, serving over 1,000 ports, catalyses the industry in the long term by immediately delivering a lower cost of biofuels, reducing food waste and revolutionizing farm economics.”
Developed in partnership with private landowners, Panama Oil Terminals (POTSA) and the government of Panama, this project will repurpose existing facilities currently processing and storing 70% of the country’s bunker fuel oil to the refinement and storage of biofuels derived from purpose grown plant oils, and waste fats and greases.
It will immediately reduce the carbon output of the facility by 80%, revolutionising the economics in the region and supporting more than 1,000 high paying jobs.
“Our country welcomes this biofuels production and logistics facility that will help Latin America and the world in the energy transition and contribute to climate change innovation. Panama’s unique geographic position, existing logistics platform, and special economic zones make it the perfect place for this facility. We are very excited about the 1,000 jobs this investment will generate for the people of Colon and Panama. In addition, it has the potential to stimulate Panama’s agricultural sector by producing bioenergy stock feeds locally,” said Laurentino Cortizo, President of the Republic of Panama.
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