In line with the increasing stress across the globe for transforming to a decarbonised economy, Repsol, a renowned fuel and energy company of Spain, revealed its vision to enlarge the Biofuels and HVO production.
The company aims to increase the production of Biofuels and HVO to 1400KTPA and 850 KTPA by 2030. The new plants will produce Bio naphtha, Bio propane, Hydro biodiesel, and Bio jet as valuable products. As of now, the refining capacity of HVO is 380 KTPA, the new capacity announced is anticipated to be commenced by 2023.
The company has already halted production in five of the hydro processing refineries in Spain in concerns over the consistent fall in the revenue due to the crippled fuel demand after Coronavirus outbreak.
The bottleneck announced in production at these plants is anticipated to emulsify its funds and resources for the recently announced 250 KTPA plant to be set up in Cartagena. According to the CEO of Repsol, the new biofuel refinery is designed to operate on recycled oil and a mixture of various industrial waste as feedstock.
As per ChemAnalyst, the mega project of Biofuel Refinery in Spain, is going to add promising capacity of Biofuel in the global market, taking forward another step for a cleaner and greener economy. It is also anticipated to abate struggles of any supply constraints of Biofuels in majority of eastern region.
