Portugal and Brazil Pursue Investment for Biofuel Plants
Portugal and Brazil are collaborating to attract Brazilian investors for advanced biofuel and sustainable aviation fuel plants in Portugal. This initiative aims to fulfill growing demand for low-carbon fuels in both domestic and European markets.
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Portugal and Brazil are actively seeking Brazilian investors to establish one or two advanced biofuel and sustainable aviation fuel plants in Portugal. The project, supported by Brazilian President Luiz Inacio Lula da Silva, is designed to utilize Brazil's biofuel expertise alongside Portugal's strategic location to meet increasing low-carbon fuel demands.
AICEP, Portugal's foreign investment agency, will manage any potential investment deals. Currently, Portugal's biofuels sector is nascent, with Galp's 270,000-ton-per-year renewable fuels plant in Sines anticipated to begin operations in 2026. The venture may also help mitigate Portugal's reliance on external energy sources amidst global price volatility.
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