Repsol accelerates in the energy race promoted by the European Commission with the construction of an advanced biofuels plant at its refinery in Cartagena.
The multinational has announced an investment of 188 million euros to make different green fuels from recycled oils and fats from homes or restaurants. Its objective is to save the emission of 900,000 tons of CO2 into the atmosphere, equivalent to 0.3% of the current emissions of the country.
Repsol aims to finance part of the project with European funds from the Recovery and Resilience Plan, although its CEO, Josu Jon Imaz, has ensured that the investment will be carried out yes or yes because it represents a strategic project for the group.
The company plans to produce 250,000 tons per year of advanced biofuels for planes, trucks and cars each year. Imaz has highlighted that its use will be key in the decarbonization of economic sectors where electricity cannot reach today, such as air transport or the large industrial plants of the country.
The works will be completed in 2023 and will generate a total of 1,000 jobs temporarily. Once the plant is operational, the facility will operate with 45 employees.
The investment in Cartagena joins two other large projects recently announced by the group at the Petronor refinery in Bilbao, for the manufacture of synthetic fuels. Its intention is to extend the generation of low-emission hydrogen to the five refineries it manages in the country.
Imaz has asked the Government for a clear commitment in defense of the industry as an “alternative” to promote the country’s economic recovery. The oil company will present on November 26 a new strategic plan with which it intends to promote its transformation into a global energy group that is less dependent on crude oil.