M2 Capital Sdn. Bhd
Add a review FollowOverview
-
Founded Date October 1, 1901
-
Sectors Education Training
-
Posted Jobs 0
-
Viewed 8
Company Description
Portugal’s Galp Plans to Start Producing Biofuels In 2025
LISBON, Dec 19 (Reuters) – Portugal’s Galp Energia expects to start producing biodiesel and biojet fuel from waste in an industrial-scale system it is constructing at its Sines refinery in 2026, the business, which is mostly an oil manufacturer and refiner, said on Thursday.
In 2015 Galp entered into a 75%-25% joint endeavor with Japan’s Mitsui to invest 400 million euros ($415 million) in the Hydrogenated Grease (HVO) plant, which will have a production capability of 270,000 metric tons per year.
It will change waste products, such as utilized cooking oils, into renewable and biojet fuel, also understood as sustainable air travel fuel (SAF), using green hydrogen produced by an electrolyser powered by wind or solar power.
Galp said in a declaration it received on Wednesday the 3 reactors to process biofuels, which will enable the HVO system to “produce SAF and biodiesel in 2026 … placing Galp at the leading edge of developing low-carbon options vital for the energy transition”.
Galp is likewise investing 250 million euros in a 100 megawatt (MW) electrolyser system to produce green hydrogen to power the refinery in Sines. ($1 = 0.9637 euros) (Reporting by Sergio Goncalves;-RRB-
