Galp has secured a €430 million loan from the European Investment Bank (EIB) for the construction of two projects. These projects aim to transform Galp’s Sines Refinery, playing a vital role in decarbonising heavy-duty road transport and aviation. Galp has partnered with Japan’s Mitsui for the development of a biofuels unit, which is currently under construction.
Furthermore, this project is a part of a total €400 million investment, out of which €250 million is provided by the EIB. The unit will convert vegetable oils and residual fats into sustainable aviation fuel and renewable diesel of biological origin. The biofuels unit is scheduled to begin production in 2026.
Additionally, Galp is also constructing a 100 MW electrolyser at the same site. This has a total investment of €250 million, with €180 million financed by the EIB. The project is expected to be operational next year and is anticipated to produce up to 15 ktpa of green hydrogen.
