Repsol has announced the investment of over €800 million in the EU backed renewable methanol project in Spain.
Located in Tarragona, the ecoplant facility is expected to receive an investment of over €800 million and will become the first plant in Europe to produce renewable and circular methanol from waste through gasification. As announced, the project aims to turn urban waste into renewable fuels and circular products, adding a solution for reducing CO2 emissions in the transport sector. The start-up of the plant is scheduled for 2029.
In addition, the new plant will have the capacity to process up to 400,000 tons of municipal solid waste per year and turn them into 240,000 tons of renewable fuels and circular products. The renewable methanol originates from organic waste, while the circular products come from non-organic waste, such as non-recyclable plastics.
The project has been selected by the European Union to receive funding from the Innovation Fund program.
According to the European Commission, the facility will reduce the equivalent of 3.4 million tons of CO2 in greenhouse gas (GHG) emissions during the first ten years of operation.
