Spanish multinational oil and gas company Cepsa has announced it is set to invest up to US$1.07bn (€1bn) in a new second generation (2G) biofuel plant at its La Rábida Energy Park facility in Palos de la Frontera, Huelva.
The new plant would manufacture 2G biofuels from organic waste, such as used cooking oil (UCO) or agricultural waste, for use in the production of renewable diesel and sustainable aviation fuel (SAF), the company said on 8 March.
Cepsa said it aimed to produce 2.5M tonnes/year of biofuels - including 800,000 tonnes of SAF - by 2030 and the project was part of its Positive Motion strategy to promote the decarbonisation of air, road and sea transport.
The company has set out a roadmap to cut its emissions with the aim of achieving net zero emissions by 2050.
