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According to the EIB, the project concerns the construction and operation of a 500 ktpa advanced second-generation biofuels production facility located in Livorno, in the Tuscany region of Italy.
The project aligns with the EU's broader decarbonisation goals, aiming for climate neutrality by 2050. It contributes to the EU Green Deal and the Fit 55 package by supporting a 55% reduction in greenhouse gas (GHG) emissions by 2030. The biofuel plant focuses on replacing fossil fuels to decarbonise the transport sector, aiding the EU targets outlined in the REDIII Directive. Notably, the plant will use feedstock listed in Annex IX parts A and B of the Directive.
Additionally, the new facility supports the RePowerEU objectives by enhancing the EU's capacity to produce clean alternatives to fossil fuels. This helps reduce reliance on fuel imports and enhances energy security. The project also aligns with Fuel EU Maritime and could, in the future, support ReFuel EU Aviation targets by supplying low-carbon fuels for challenging-to-decarbonise sectors.
The low-carbon biofuels produced will reduce carbon and air pollution externalities from the transport sector. The upcycling of waste like Used Cooking Oil (UCO), animal fats and other industry residues, reduce negative impacts from their alternative disposal. Low-carbon technologies contribute towards increasing security of energy supply, considered as a public good. The investment is therefore strongly aligned to several EIB Public Policy Goals.
The Project is implemented by an experienced Promoter that has a strong experience in the biofuels sector, including in similar projects. The Project allows ENI to increase the share of low carbon fuels it produces, supporting the Company's shift towards sustainability. In fact, the Project will be the first step towards the conversion of the Livorno refinery into a biorefinery site.
The produced second generation (2G)/advanced biofuels will deliver significant Greenhouse Gas (GHG) savings. This will result in economic returns that are significantly higher than the financial returns.
The Bank's financial contribution is considered valuable to the client, as the EIB's offering is more favourable than other market alternatives under various dimensions (e.g. longer tenor, availability and grace periods, convertible or revisable rates). The EIB loan will further diversify the Borrower's financing sources, complementing those from commercial banks and the capital markets.
As stated by Bloomberg, Eni SpA explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Eni SpA | Client | Energy |
No project contacts provided at the time of disclosure.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm
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