SGP BioEnergy to build world's largest HVO biorefinery in Panama

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Type of post: NEWS IN BRIEF.

A team of energy industry companies led by SGP BioEnergy together with the Government of Panama have announced the development of the world's largest biofuels production and distribution hub. Once complete in five years, Biorefineria Ciudad Dorada (Golden City Biorefinery), located in Colon and Balboa (Panama) will be the largest SAF production platform in the world producing 180,000 barrels per day (2.6 billion gallons per year) of advanced biofuels.

Developed in partnership with private landowners, Panama Oil Terminals (POTSA) and the government of Panama, this project will repurpose existing facilities currently processing and storing 70% of the country's bunker fuel oil to the refinement and storage of biofuels derived from purpose grown plant oils, and waste fats and greases. It will immediately reduce the carbon output of the facility by 80%, revolutionizing the economics in the region and supporting more than 1,000 high paying jobs.

The biorefinery will be developed in three phases, each over a period of 5 years with the goal of increasing production by 60,000 barrels per day over each phase. SGP BioEnergy has selected Fluor together with its Mexico-based affiliate ICA Fluor, to perform the front-end engineering study. The facility will use Topsoe's technologies HydroFlex™ and H2 Bridge™.

To finance the project, SGP BioEnergy partnered with Goldman Sachs to identify investors that shared the company's vision for a better energy mix that includes renewable biofuel. The country of Panama was an ideal partner to support the financial potential of the project given its free zones, commitment to clean energy innovation and global platform to transport the fuels to over 1,000 ports around the world.

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