- With this project, the Spanish industry positions itself to be a relevant European player in reducing emissions
- Repsol, Petronor and the Energy Agency of the Basque Government (EVE) will be partners in the net-zero emissions synthetic fuels plant
The CEO of Repsol, Josu Jon Imaz, today presented a pioneering industrial decarbonization project that the company will undertake with the participation of prominent Spanish and international partners.
The facility, to be located in the port of Bilbao and its surrounding area as a first option, will represent a combined initial investment of approximately 60 million euros.
This way, Repsol continues to take decisive steps to lead the energy transition and towards the goal of becoming a net-zero emissions company by 2050. The initiative represents a new example of the public-private collaboration needed to address challenges such as the fight against climate change and to promote the value-added industrial sector as one of the keys to achieving a rapid economic recovery.
The project, in which 60 million euros will initially be invested, involves building one of the largest net-zero emissions synthetic fuel production plants in the world, based on green hydrogen generated with renewable energy. The main feature of these new fuels is that they are produced using water and CO2 as the only raw materials. They can be used in the combustion engines that are currently installed in automobiles in Spain and the rest of the world, as well as in airplanes, trucks, and other machinery.
Repsol’s partners include Petronor, one of Spain’s principal industrial centres; and the Energy Agency of the Basque Government (EVE), a public-sector leader in the energy transition.
The facility, which will be fully operational within four years, will set a new benchmark in Europe thanks to the cutting-edge technology applied and the use of CO2 captured in the nearby Petronor refinery. Its development represents a first-order technological challenge that will be led by the Repsol Technology Lab research center. It will combine green hydrogen—a 100% clean energy generated from renewable sources—with CO2 as the raw materials in the process, and it will position Repsol on the leading edge of the development of net-zero emissions fuels.
In the first phase, which will be scalable in a later commercial-stage depending on the results obtained, 50 barrels of synthetic fuel will be produced per day, with net-zero emissions of CO2 in the entire production cycle. Conceptual engineering will begin this year. Petronor is the only refinery in the Iberian Peninsula and one of few in Europe that has integrated the process of capture, storage, and use of CO2, and it is expected to be able to capture the CO2 directly from the air.
Repsol CEO. Josu Jon Imaz said, “Opting for the industry is opting for a rapid and stable economic recovery.” “Spain must base its decarbonization strategy on its technological and industrial capabilities. The production of green hydrogen and its combination with the capture and use of CO2 to produce net zero emissions fuels is part of Repsol’s industrial decarbonization strategy. With this project, the Spanish industry positions itself to be a relevant European player in reducing emissions.”