European Investment Bank provides Repsol with $127M loan for Cartagena biorefinery

In Luxembourg, the European Investment Bank (EIB) is providing a EUR120 million loan to Repsol to support the construction and operation of the first advanced biofuels production plant at the company’s facilities in Cartagena, (Region of Murcia). The plant will produce second generation and advanced biofuels from different types of waste primarily from the agri-food industry, such as used cooking oils, as part of the transition process towards a more circular economy. Construction work began in March this year and is scheduled for completion in the second half of 2023.

While second-generation biofuels are derived from a broad range of biogenic residues including used cooking oils, certain animal fats and vegetable oils that cannot be used as food or are derived from crops that do not compete with food, advanced biofuels are produced specifically from a subset of biogenic feedstocks listed in Part A of Annex IX of the REDII directive.