Repsol invests $300m into Bunge to up its biofuel feedstock capacity

Global multi-energy company Repsol has acquired 40% of three of oilseed and speciality plant-based products producer Bunge’s industrial facilities in an effort to maximise its biofuel feedstock capacity. The total transaction is worth $300 million, with up to an additional $40 million in contingency payments. ‘Through this alliance, Repsol increases its access to a broad portfolio of low-carbon raw materials to produce renewable fuels, which provide an immediate route to accelerate the reduction of emissions from transportation,’ said the company in a statement. It plans to increase its current production capacity of 1.1 million tons of renewable fuel a year