European Investment Bank and Cepsa sign 305$M loan for SAF and HVO plant in Andalusia

In Spain, European Investment Bank (EIB) and Cepsa signed a €285 million loan agreement for the construction of an advanced biofuels plant to be located next to the ¨La Rábida Energy Park¨ in Palos de la Frontera, Andalusia.
The plant, which Cepsa is building together with Bio-Oils, will produce sustainable aviation fuel (SAF) and renewable diesel (HVO), from organic waste such as used cooking oil or from agricultural waste, advancing the circular economy. Once operational, the facility is expected to process as much as 600,000 metric tons of waste and produce up to 500,000 tons of second-generation biofuels annually. 

With this new arrangement, the EIB is continuing to support Cepsa’s decarbonisation strategy. It is the third financing operation with Cepsa in the last two years to accelerate this strategy. The previous two were a loan of €80 million for photovoltaic plants in Andalusia and a loan of €150 million for Cepsa’s network of electric charging stations in Spain and Portugal.