This Monday, Galp announced that it has made a final investment decision on two major decarbonization projects at the Sines refinery, with a total investment of 650 million euros, which are expected to come into operation in 2025.
“Galp has made a final investment decision that will enable the commencement of two large-scale projects critical to the decarbonization of the Sines refinery and its energy products; these projects include an advanced biofuel production facility with a production capacity of 270 thousand tons per year. , in partnership with Mitsui, and the installation of 100 MW electrolysers for the production of green hydrogen,” it said in a statement sent to the Securities Market Commission (CMVM).
These projects, the two largest of their kind, represent a global investment of €650 million, according to the company. “This is a significant contribution to the transformation and growth of Portugal’s industrial sector and places Galp at the forefront of developing low-carbon solutions needed to support the energy transition,” said Galp Board President Paula Amorim. , the message says.
“These investment decisions were taken with the expectation that the development of the tax and regulatory framework in Portugal will not jeopardize the success of these large-scale projects, ensuring that our industrial enterprises remain competitive in the long term in a global context,” added the oil company’s “chairman.” companies.
Explaining the projects, Galp announces that it has joined forces with Mitsui, which owns 25% of the new advanced biofuels division, “to produce and sell advanced biofuels in a facility located adjacent to the Sines refinery, with a capacity of 270 thousand tons.” annually”.
This new plant “will produce renewable diesel (HVO) and sustainable aviation fuel (SAF) from waste waste, reducing greenhouse gas emissions by approximately 800 thousand tons per year (Application Scope 3, CO2e ). compared to available fossil alternatives”, for a total investment of approximately 400 million euros.
In addition, Galp also reported that “a 100 MW green hydrogen electrolysis plant will be built that will produce up to 15 thousand tons of renewable hydrogen per year,” which will replace “about 20% of current gray hydrogen consumption and could mean a reduction in emissions greenhouse gases by approximately 110 thousand tons per year (scope 1 and 2, CO2e).”
The electrolysers will be powered by renewable electricity under long-term supply agreements as well as Galp’s renewable generation capacity, the company adds, also noting that by using recycled process water, “the water consumption of this unit should be less than 3%.” average annual consumption of the plant”.
The total investment in this green hydrogen project is estimated at approximately $250 million, the statement also said.
Author: Lusa
Source: CM Jornal
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