ROTTERDAM: Neste, a producer of renewable diesel and sustainable aviation fuel (SAF), is to modify its Rotterdam refinery at a cost of €190 million to produce 500,000 tons of SAF a year.
Together with the company’s Singapore refinery expansion, Neste will have the capacity to produce 1.5 million tons of SAF by the end of 2023 from waste and residue raw materials.
“Aviation is at a turning point towards a more sustainable future,” said Thorsten Lange, Neste EVP Renewable Aviation. “This extension of our SAF production capacity will support the aviation industry’s efforts to reduce its greenhouse gas emissions and the climate impact in the coming years.
“We are pleased that we will be ready to meet the growing demand of SAF, also driven by the European Union’s climate ambitions which will shortly be translated into a proposal for binding legislation across Europe,” he added.
The company will make a decision by the end of 2021 or early 2022 to build a renewable products refinery in either Rotterdam or at an existing facility in Porvoo, Finland.
“Based on the thorough studies and calculations, the overall cost of the investment is significantly lower in Rotterdam,” commented Neste CEO Peter Vanacker. “Our decision relies on ensuring our future competitiveness and our renewables’ growth strategy execution.”
Contributing to the overall cost difference between the two sites are logistics costs, site-specific construction costs and availability of low-carbon hydrogen supply, he noted.
Story Type: News