Repsol announced that it will produce relatively lower quantities of sustainable aviation fuel (SAF) and prioritise RD production at the recently-launched Cartagena biofuels site in Spain.
While speaking at the Q1 2024 earnings call, Josu Jon Imaz, CEO, Repsol said that: “It seems to me that because today the renewable diesel market is higher, the plant in this first step is going to be mainly focused to produce renewable diesel. And I mean we are going to produce a part of SAF, but this figure of SAF, probably, it makes sense to be increased from 2025 on when the mandatory regulation will come.”
Imaz further added that the SAF production at Cartagena site is going to depend on the submarket for the fuel. Repsol has the capacity to produce more 100% renewable diesel or shift towards SAF to produce 65%, 70% more or less of SAF. On the other hand, it could also utilise 75% of production capacity towards SAF and remainder for renewable diesel.
Repsol began large-scale production of renewable fuels at its industrial complex in Cartagena (Spain) in April earlier this month.
The plant, first on the Iberian Peninsula, is dedicated to exclusively produce 100% renewable fuels. The company invested €250m in the construction of the unit, which has a production capacity of 250,000 tons per year.
The site can produce renewable diesel and SAF. The new plant will process 300,000 tons of organic waste a year – used cooking oil, among others – prioritising residues of national and European origin.
During the Q1 2024, Repsol’s adjusted income in the first quarter was €1.2bn, €624m lower than in the same period of 2023.
