Mizuho EMEA and Standard Chartered have supported SkyNRG with the financing of Europe's first facility dedicated solely to the production of sustainable aviation fuel (SAF).
Both acted as mandated lead arrangers for the SkyNRG Delfzijl (DSL01) project financing facilities.
Standard Chartered also acted as original hedge counterparty and original lender on the financing.
“Financing DSL01 underlines Mizuho’s commitment to practical, scalable solutions for hard-to-abate sectors," said Mizuho EMEA co-head of infrastructure and advisory Salvatore Ciccarelli. "By backing this facility, which leverages strong industry partnerships, we are helping to accelerate the supply of SAF and drive measurable emissions reductions across aviation.”
“This transaction marks Standard Chartered’s first financing of a sustainable aviation fuel production facility and reflects our commitment to supporting the transition of hard-to-abate sectors, including by deploying our balance sheet to help scale innovative solutions,” said Standard Chartered head of transition finance Ben Daly.
“Reaching this important milestone in the development of our DSL-01 facility marks an important step in our transition to becoming an owner and operator of SAF production capacity,” said SkyNRG CEO and cofounder Maarten van Dijk.
DSL01 will be located at the Delfzijl chemical park in the north of the Netherlands. With the support of partners including Macquarie Asset Management, APG and KLM Royal Dutch Airlines, the facility will produce 100,000 tonnes of SAF each year.