{"id":159602,"date":"2025-03-13T07:26:00","date_gmt":"2025-03-13T06:26:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=159602"},"modified":"2025-03-11T14:23:55","modified_gmt":"2025-03-11T13:23:55","slug":"portugal-eib-finances-galps-renewable-hydrogen-and-biofuels-projects-in-sines-with-e430-million","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/portugal-eib-finances-galps-renewable-hydrogen-and-biofuels-projects-in-sines-with-e430-million\/","title":{"rendered":"Portugal: EIB finances Galp\u2019s Renewable Hydrogen and Biofuels projects in Sines with \u20ac430 million"},"content":{"rendered":"\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-1024x683.jpg\" alt=\"\" class=\"wp-image-159605\" style=\"aspect-ratio:1.499267935578331;width:364px;height:auto\" srcset=\"https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-1024x683.jpg 1024w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-300x200.jpg 300w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-150x100.jpg 150w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-768x512.jpg 768w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-1536x1024.jpg 1536w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402-400x267.jpg 400w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/f677ef60-3f68-4243-9842-543b3098b402.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u00a9 EIB<\/figcaption><\/figure><\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The two projects, already in construction at the Sines Refinery, represent a total investment of \u20ac650 million.<\/strong><\/li>\n\n\n\n<li><strong>The Biofuels unit, financed with \u20ac250 million, will produce low-carbon fuels essential for the decarbonization of transport.<\/strong><\/li>\n\n\n\n<li><strong>The renewable Hydrogen production unit, financed with \u20ac180 million, will be one of the largest in Europe.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>The European Investment Bank (EIB) has granted a \u20ac430 million loan for the construction of two key projects aimed at transforming Galp\u2019s Sines Refinery, making a crucial contribution for the decarbonization of heavy-duty road transport and aviation.<\/strong><\/p>\n\n\n\n<p>Galp is developing the Biofuels unit, already at a construction stage, in partnership with Japan\u2019s Mitsui, as part of a total \u20ac400 million investment, of which \u20ac250 million is provided by the EIB. This unit will convert vegetable oils and residual fats into sustainable aviation fuel (SAF) and renewable diesel of biological origin (HVO) with identical characteristics to the fossil-based fuels used in regular combustion engines.<\/p>\n\n\n\n<p>This unit, set to begin production in 2026, will have the capacity to produce up to 270,000 tons of renewable fuels, enough for Portugal to comply with the European Union mandate for this type of fuels in aviation. SAF is essential for air transportation \u2013 responsible for about 3% of global greenhouse gas emissions \u2013 to begin its decarbonization journey.<\/p>\n\n\n\n<p>In parallel, Galp is building in the same site a 100MW electrolyser, a \u20ac250 million investment of which the EIB will finance \u20ac180 million. It is set to produce up to 15,000 tons of renewable hydrogen per year when it goes online next year, becoming one of the first operational units of its size in Europe.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThese pioneering projects are a clear example of how we can combine financing, innovation, and our environmental commitment to promote a fair and sustainable energy transition,\u201d said <strong>Jean-Christophe Laloux, Director General, Head of EU Lending and Advisory at the EIB<\/strong>. \u201cBy supporting the production of advanced biofuels and renewable hydrogen, we are contributing to a more energy-independent Europe that aligns with global climate goals.\u201d<\/p>\n\n\n\n<p>\u201cWe have mobilized partners, private investment, and European financing to drive a transformative project that brings European and national energy and industrial policies to life,\u201d said <strong>Ronald Doesburg, Galp<\/strong>\u2019s Executive Board Member responsible for the Industrial area. \u201cMore is needed from energy companies, public funding and government support if we want to maintain Portugal\u2019s relevance in an increasingly unstable world,\u201d he concluded.<\/p>\n<\/blockquote>\n\n\n\n<p>The two projects support the goal of climate neutrality by 2050, in line with the&nbsp;<a href=\"https:\/\/www.eib.org\/en\/press\/all\/2023-270-eib-to-support-green-deal-industrial-plan-with-eur45-billion-in-additional-financing\">European Green Deal<\/a>, and strengthen the EU\u2019s&nbsp;<a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_22_3131\">energy independence<\/a>&nbsp;as outlined in the&nbsp;<a href=\"https:\/\/www.eib.org\/en\/projects\/topics\/energy-natural-resources\/energy\/repowereu\">REPowerEU<\/a>&nbsp;plan. The projects benefit from \u20ac22,5 in Recovery and Resilience Plan incentives.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-1024x683.jpg\" alt=\"\" class=\"wp-image-159606\" style=\"aspect-ratio:1.499267935578331;width:712px;height:auto\" srcset=\"https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-1024x683.jpg 1024w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-300x200.jpg 300w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-150x100.jpg 150w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-768x512.jpg 768w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-1536x1024.jpg 1536w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-2048x1366.jpg 2048w, https:\/\/renewable-carbon.eu\/news\/media\/2025\/03\/04d7fe7f-7379-46bb-9dcf-38183c2eb21b-400x267.jpg 400w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u00a9 EIB<\/figcaption><\/figure><\/div>\n\n\n<div style=\"height:13px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About the EIB<\/strong>&nbsp;&nbsp;<\/h3>\n\n\n\n<p>The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around&nbsp;<a href=\"https:\/\/www.eib.org\/en\/about\/at-a-glance\/eib-core-strategic-priorities\" target=\"_blank\" rel=\"noreferrer noopener\">eight core priorities<\/a>, we finance investments that contribute to EU&nbsp;<a href=\"https:\/\/www.eib.org\/en\/about\/at-a-glance\/index.htm\" target=\"_blank\" rel=\"noreferrer noopener\">policy objectives<\/a>&nbsp;by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.&nbsp;<\/p>\n\n\n\n<p>The EIB Group, which also includes the&nbsp;<a href=\"https:\/\/www.eif.org\/index\" target=\"_blank\" rel=\"noreferrer noopener\">European Investment Fund (EIF)<\/a>, signed nearly \u20ac89 billion in new financing for over 900&nbsp;<a href=\"https:\/\/www.eib.org\/en\/about\/key-figures\/index\" target=\"_blank\" rel=\"noreferrer noopener\">high<\/a><a href=\"https:\/\/www.eib.org\/en\/about\/key-figures\/index\" target=\"_blank\" rel=\"noreferrer noopener\">-impact projects<\/a>&nbsp;in 2024, boosting Europe\u2019s competitiveness and security.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our&nbsp;<a href=\"https:\/\/www.eib.org\/en\/publications\/20230176-eib-group-climate-bank-roadmap-mid-term-review\" target=\"_blank\" rel=\"noreferrer noopener\">Climate Bank Roadmap<\/a>. Almost 60% of the EIB Group\u2019s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Fostering market integration and mobilising investment, the Group supported a record of over \u20ac100 billion in new investment for Europe\u2019s energy security in 2024 and mobilised \u20ac110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB&#8217;s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.&nbsp;<\/p>\n\n\n\n<p>High-quality, up-to-date photos of our headquarters for media use are available&nbsp;<a href=\"https:\/\/www.eib.org\/en\/media-centre\/photos\/our-buildings\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About Galp<\/strong><\/h3>\n\n\n\n<p>Galp&nbsp;is an energy company committed to developing efficient and sustainable solutions in its operations and the integrated offerings it provides to its customers. We create simple, flexible, and competitive solutions for energy or mobility needs, catering to large industries, small and medium-sized enterprises, as well as individual consumers.<\/p>\n\n\n\n<p>Our portfolio includes various forms of energy \u2013 from electricity generated from renewable sources to natural gas and liquid fuels, including low-carbon options. As a producer, we engage in the extraction of oil and natural gas from reservoirs located kilometers below the ocean surface, and we are also one of the leading solar-based electricity producers in the Iberian region.<\/p>\n\n\n\n<p>We contribute to the economic development of the 10 countries where we operate and to the social progress of the communities that welcome us. Galp employs more than 7,000 people from 52 nationalities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Investment Bank (EIB) has granted a \u20ac430 million loan for the construction of two key projects aimed at transforming Galp\u2019s Sines Refinery, making a crucial contribution for the decarbonization of heavy-duty road transport and aviation. Galp is developing the Biofuels unit, already at a construction stage, in partnership with Japan\u2019s Mitsui, as part [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":159607,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":"Loan for the construction of two key projects aimed at transforming Galp\u2019s Sines Refinery, making a crucial contribution for the decarbonization of heavy-duty road transport and aviation","footnotes":""},"categories":[5572],"tags":[12570,5838,5714,14144,5627,10408,15511,16792,15108],"supplier":[8282,5585,10206,4426],"class_list":["post-159602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bio-based","tag-biodiesel","tag-bioeconomy","tag-biofuels","tag-electrolysis","tag-energy","tag-greenchemistry","tag-greenhydrogen","tag-saf","tag-transportation","supplier-european-investment-bank","supplier-european-union","supplier-galp-energia","supplier-mitsui-chemicals"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/159602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=159602"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/159602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media\/159607"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=159602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=159602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=159602"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=159602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}