EMEA News
South African Green Methanol Project Gets Funding
Climate Investor Three, through its affiliated SA-H2 Fund, has committed up to $4 million for a green methanol project in South Africa being developed by Green eFuels Producers.
The project will convert sewage sludge from the Sebokeng Wastewater Treatment Works into green methanol using renewable electricity and green hydrogen, Climate Investor Three said in an email statement on Tuesday.
The facility is expected to produce about 14,300 mt/year of green methanol.
The blended finance facility is managed by Climate Fund Managers.
The financing will support engineering work, environmental studies and permitting, with the fund also securing the option to invest up to $26 million in future equity funding.
The project is expected to avoid almost 119,000 mt/year of CO2-equivalent emissions once operational, with commercial operations targeted to begin in 2029.
Methanol is seen as one of the more practical alternative fuels because it can be handled using relatively familiar infrastructure compared with some other emerging marine fuels.
The container segment has led orders for methanol-fuelled newbuilds.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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