Cepsa to invest 1 billion euros in Spanish renewable diesel, SAF project
Madrid, Spain-based global energy company Cepsa announced March 8 it will build a new renewable diesel and sustainable aviation fuel (SAF) plant in Palos de la Frontera, Huelva, Spain, which will involve an investment of up to 1 billion euros (USD$1.06 billion).
The new plant will be located in the La Rábida Energy Park and will create up to 1,600 jobs, direct and indirect, during its construction phase.
The renewable diesel and SAF will be made from organic waste such as used cooking oil or agricultural waste, among others, promoting the circular economy.
The use of biofuels can reduce CO2 emissions by up to 90 percent compared to traditional fuels, which is why they are a key element in advancing the energy transition and promoting the decarbonization of transport—especially in sectors in which electrification is very complex, such as heavy transport by road, air and sea.
The construction of this new plant responds to the company’s objective of becoming a benchmark in the energy transition this decade, and leading the manufacture of biofuels in Spain and Portugal.
Cepsa is targeting the production of approximately 825 million gallons per year of second-generation biofuel, roughly one third of which will be SAF, by 2030.
Within the framework of its 2030 strategy, Positive Motion, Cepsa is promoting the development of an ecosystem focused on accelerating its decarbonization and that of its clients through the production of green molecules, mainly renewable hydrogen and biofuels.
In its strategic plan, the company has established an ambitious roadmap to cut its emissions, placing itself among the leading companies in its sector.
Specifically, in 2030, it will reduce its CO2 emissions (scopes 1 and 2) by 55 percent and its carbon intensity index by 15 percent to 20 percent, with the aim of achieving net-zero emissions by 2050.
Cepsa said it wants to go beyond net zero and achieve a positive impact, adding value to the communities where it is present by allowing its clients and other stakeholders to move in the right direction.