Acelen Renewables secures financing for renewable diesel, SAF project in Bahia, Brazil

Photo: Acelen Renewables

Acelen Renewables ​​announced May 21 a USD$1.5 billion investment to begin construction of its renewable fuels biorefinery in Bahia, Brazil.

A portion of this amount is financed by a consortium supported and led by HSBC and the World Bank International Finance Corp., bringing together 10 national and international financial institutions:

• First Abu Dhabi Bank.

• Abu Dhabi Commercial Bank.

• IDB Invest.

• BNDES.

• The Asian Infrastructure Investment Bank.

• Development Finance Institute Canada.

• KfW IPEX-Bank.

• Bradesco.

• BBVA.

• The Bank of China.

The company first announced plans to convert its Mataripe Refinery to produce biofuels three years ago.

According to Acelen Renewables, the project represents more than just a large-scale industrial investment, it solidifies the international market’s confidence in Brazil’s capacity to lead low-carbon solutions with competitiveness, scale and socioeconomic impact.

With operations scheduled to begin in 2029, the plant will have the capacity to produce 1 billion liters (264 million gallons) annually of sustainable aviation fuel (SAF) and renewable diesel, utilizing hydroprocessed esters and fatty acids (HEFA) technology.

This initiative also integrates agroindustrial development, productive regeneration and social inclusion—through job creation and partnerships with family farming—while adhering to the most rigorous international standards for sustainability and governance, the company said.

“We believe that transformative projects demand a long-term vision, international cooperation and a commitment to lasting positive impact,” Acelen Renewables stated.