Galp plans to start producing biofuels in 2026

Portugal’s Galp Energia (GALP.LS) said on Thursday it expects to start building an industrial-scale unit at its Sines refinery in 2026 to produce biodiesel and biojet fuel from waste.

Last year, Galp set up a joint venture with Japan’s Mitsui & Co (8031.T) with a 75%-25% stake each, and the new label will invest 400 million euros ($415 million) in a hydrogenated vegetable oil (HVO) plant, which will produce 270,000 tonnes a year.