Clean Energy Developer Solarig to Build $850 Million Sustainable Aviation Fuel Plant in Spain
Clean energy developer Solarig announced today that it will develop a new sustainable aviation fuel (SAF) plant in Spain, with a production capacity of 60,000 tonnes (approximately 75 million liters) of SAF per year.
The company anticipates that it will invest €780 million (USD$847 million) in the new plant, located in in Parque Empresarial del Medio Ambiente (PEMA) located in the municipality of Garray.
Sustainable aviation fuel is seen as one of the key tools to help decarbonize the aviation industry, which currently accounts for 2-3% of global greenhouse gas (GHG) emissions. The investment comes as demand for SAF is expected to rise dramatically over the next few years, as airlines turn to the technology as one of the key solutions to hit their climate goals, and as governments begin to mandate increased SAF use to achieve their own decarbonization ambitions. The EU, for example, recently announced the adoption of a law mandating minimum SAF usage, increasing to 70% of fuel blends by 2050, and the Inflation Reduction Act in the U.S. encourages the use of SAF via strong tax incentives.
