EMEA News
Galp Secures EIB Funding for Sines Biofuel Project
Portuguese energy company Galp has secured €250 million ($262 million) in funding from the European Investment Bank (EIB) to support the construction of its 270,000 mt/year renewable biofuel production facility in Sines.
Construction of the facility is already underway and is expected to begin production next year, EIB said in a statement on its website.
Galp has partnered with Japan’s Mitsui for the project.
The plant will produce sustainable aviation fuel (SAF) from vegetable oils and residual fats, as well as renewable diesel from hydrotreated vegetable oil (HVO) for the transport sector.
The project could support biofuel bunkering in Portugal. Galp already supplies biofuel blends derived from FAME and HVO for shipping, and the new facility could further enhance its position in the biofuel marine fuel market.
In addition, Galp has secured €180 million in EIB funding for its hydrogen production unit in Sines.
The company is developing a 15,000 mt/year renewable hydrogen facility alongside the biofuel plant.
It will feature a 100 MW electrolyser and is expected to be operational next year.
