CARTAGENA ADVANCED BIOFUELS (EIB-20220424)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Spain
Geographic location where the impacts of the investment may be experienced.
Specific Location
Murcia
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 16, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
REPSOL SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
  • Energy
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 127.17 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 120
Converted using 2022-12-16 exchange rate.
Project Cost (USD)
$ 266.01 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 251
Converted using 2022-12-16 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Mar 28, 2024

Disclosed by Bank Jan 2, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank's website, the project concerns (i) the construction and operation of a 255ktpa first-of-a-kind second generation biofuels production facility at Repsol's refinery in Cartagena (Murcia), based on a Hydrogenated Vegetable Oil (HVO) technology and; (ii) the support to research programmes toward advanced biofuels technologies conducted at the promoter's facilities.

Compliance with the EU environmental legislation, notably the Environmental Impact Assessment (EIA) directive 2014/52/EU amending the EIA Directive 2011/92/EU, will be reviewed during appraisal, as well as well compliance with the industrial emissions directive (IED) 2010/75/EU and other applicable environmental laws.

The aim is intended to produce sustainable advanced biofuels for transport, including aviation (SAF - Sustainable aviation fuel), from used cooking oils and other fat-rich waste streams generated in food value chains, by using re-engineered HVO technologies.

The development of second generation (advanced) biofuel production technologies is identified as a key technological pathway towards the decarbonisation of transport under the Renewables Energy Directive II (2018/2001/EU). It is also one of the priorities of the European Strategic Energy Technology Plan (SET-Plan) and projects of this kind have been receiving strong grant support throughout H2020 and Horizon Europe.

The project is in line with several key EU policies, namely the Green Deal, REPower EU and the Fit-for-55 package (regarding the increase of renewables in transport and reduction of transport emissions), as well as with the aim of reducing dependence on Russian fossil fuels and fast-forward the green transition.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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No contact information was disclosed on the bank's web page. 

ACCESS TO INFORMATION

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