Finnish renewable fuels producer Neste’s crude oil refinery in Finland is set to be converted into a renewables and circular solutions refining hub.
The phased conversion would require multiple separate investment decisions over the next decade before a targeted completion in the mid-2030s, the company said on 20 December.
Following completion of the conversion, the company said it expected the long-term capacity potential to be around 3M tonnes/year of renewable and circular products, such as renewable diesel, sustainable aviation fuel and both renewable and circular feedstock for the polymers and chemicals industry.
“The long-term transformation of the Porvoo refinery is a key element in our renewables growth strategy, completing Neste’s journey to a 100% renewable and circular solutions provider when finalised,” Neste president and CEO Matti Lehmus said.
The site’s conversion followed a study period launched by Neste in September 2022 into the future of the facility.
Neste has made a commitment to reach carbon-neutral production by 2035 and to reducing the carbon emission intensity of sold products by 50% by 2040.
