EIB and Eni Finalize €500 Million Loan for Biorefinery in Italy
The European Investment Bank and Eni have signed a €500 million financing agreement to transform Eni's Sannazzaro de' Burgondi refinery into a biorefinery. This project aims to enhance the production of hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF), contributing to decarbonization goals in the transport sector.
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The European Investment Bank (EIB) and Eni have secured a €500 million loan to convert units of the Sannazzaro de' Burgondi refinery into a biorefinery, expected to commence production in 2028 with an annual capacity of approximately 550,000 tonnes. Utilizing Ecofining™ technology, the biorefinery will process waste feedstocks, including used cooking oils and animal fats, to produce HVO and SAF.
This initiative supports Eni's ambition to achieve 5 million tonnes of biofuel capacity by 2030 and aligns with EU energy and climate objectives, enhancing energy security. The project follows a similar investment in Livorno and is anticipated to accelerate demand for SAF in response to regulatory frameworks, including the ReFuelEU Aviation initiative.
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