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Galp Unveils €650 M Investments in Biofuels, Hydrogen Facilities

The Portuguese energy company Galp has taken the final investment decision on two large scale projects to reduce the carbon footprint of the Sines refinery and of its products, the company said. The projects include a 270 ktpa advanced biofuels unit, in partnership with Mitsui, and 100 MW of electrolysers for the production of green hydrogen. Both units are expected to have their first start up during 2025.

“These projects are some of the largest of their kind, representing an overall investment of c. €650 m. This is a significant contribution to the transformation and growth of the industrial sector in Portugal, placing Galp at the forefront of the development of low carbon solutions necessary for the energy transition. These investment decisions were made on the expectation that the fiscal and regulatory developments in Portugal will not hinder the success of such large-scale projects, ensuring that our industrial operations remain long-term competitive in a global playing field”, Galp Chair Paula Amorim said.

Photo courtesy of Galp

Press release https://is.gd/1294BR

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