Banks and global companies will be the suppliers of the Omega Green advanced biofuel plant in Paraguay
Asunción (Paraguay), November 25, 2019 - Global companies that are leaders in their business areas will provide financial, technological and engineering services to the Omega Green advanced biofuel. Brazilian businessman Erasmo Carlos Battistella, president of ECB Group, made the announcement of the companies that will support the project on Monday (25) in an event with high-level audience, including the President of Paraguay, Mario Abdo Benítez, government authorities, foreigners diplomats, bank executives and logistics operators in the country.
Launched in February, Omega Green Project represents the largest private investment in Paraguay`s history and aims to build the first advanced biofuel plant in the Southern Hemisphere. The complex will be located in the city of Villeta, about 45 km from Asunción, on a land acquired by ECB Group. The company will produce renewable diesel (HVO - Hydrotreated Vegetable Oil) and renewable aviation kerosene (SPK - Synthetic Paraffinic Kerosene), fuels that reduce greenhouse gas emissions and will be exported to Paris Agreement signatory countries, such as the US, Canada and members of the European Union.
Erasmo Battistella presented to President Mario Abdo Benítez all the advances since the project has been started, such as the kickoff for obtaining international certifications for selling the biofuels to the world’s largest markets and commercial meetings in 15 countries since last February.
“We are committed to Paraguay and to President Abdo’s government to come to this country to build together and aggregate value to the raw materials produced here. Omega Green is going to export its production and bring to Paraguayans economic, environmental and social benefits”, Mr. Battistella said. “In the next months we will work hard to have the first commercial deals so that part of our production has a selling guarantee for at least five years, finish the financial structuration of the investment and the technology and engineering technical details.”
Industry and Commercial minister Liz Cramer stated how important it is to Paraguay to bring investments aligned with global tendencies of sustainability such as Omega Green. “Today is a very important day to realize that we are accomplishing one of the main tasks Mr. President gave us. We were in charge of bringing high impact investments and we are doing this at the very first year of this government”, Mrs. Cramer said. “We will keep on working together in this big dream that already is becoming true.”
European and US companies among the suppliers of Omega Green
Representatives of Omega Green suppliers participated in the presentation of ECB Group. The global banks Barclays and UBS will be the financial structurers of the project. They were chosen for their international presence and extensive experience in financing large multinational projects. Marco de Carvalho, Barclays Brazil CEO and Head of M&A LatAm, and Enrique Vivot, Head of Southern Region at UBS, have attended the event.
The total investment will reach U$ 800 million and it is estimated that Omega Green will impact Paraguay`s Gross Domestic Product (GDP) with an addiction of U$ 8,000 million in 10 years.
Among the suppliers chosen to support the project is Honeywell UOP, with a renewable fuel refining technology called UOP Renewable Jet Fuel Process™, and Crown Iron Works, an American company with business in Latin America, which will provide technology for the treatment of Vegetable oils and non-edible animal fats for the production of advanced biofuels. José Fernandes, Honeywell vice-president for Latin America, and Marcos Felipe, Crown Brazil manager, has represented their companies at the presentation.
The UOP process for the creation of renewable aviation fuel (UOP Renewable Jet Fuel Process) was originally developed to produce Honeywell Green Jet Fuel ™ fuel for the United States Army. This is an extension of the Ecofining™ process, developed by Honeywell UOP in collaboration with Eni SpA, which converts non-edible natural oils, animal fats and other raw materials to Honeywell Green Diesel ™, which is chemically identical to petroleum-derived diesel. Honeywell Green Diesel offers better performance than commercial biodiesel and petroleum-derived diesel and can be used as a substitute in vehicles without the need for equipment modifications or mixed mixtures.
Honeywell Green Jet Fuel and Honeywell Green Diesel fuels also offer a 60% to 85% reduction in the life cycle of greenhouse gas emissions compared to petroleum fuels and provide better performance in turbine engines diesel or aviation with less emissions.
Experts from Spain will be responsible for building the complex
Last week ECB Group signed an Engineering, Procurement and Construction (EPC) agreement with Spanish company ACCIONA. With presence in more than 20 countries, including Brazil, Chile and Peru; ACCIONA is an expert in the execution of complex EPC projects, with special attention and experience in renewable energy installations or contributing to the sustainability of the environment, such as Omega Green. André de Angelo, the company’s president for Brazil, Paraguay, Uruguay and Bolivia, has attended the presentation.
ACCIONA has extensive experience in the construction of industrial projects, with a high degree of technological value; in which significant engineering resources and processes are required, equipment supplies globally and whose execution requires the most advanced construction and commissioning methods.
The construction will begin in the first semester of 2020 and is estimated to be concluded in 30 months. The complex will create more than 3,000 direct jobs during construction and some 2,400 jobs, direct and indirect, once operational. More than 20,000 smallholder families will benefit from social certification programs to produce raw materials.
The complex in Paraguay will be the third world plant for advanced biofuels and production of 20,000 barrels per day of renewable diesel and kerosene, mostly destined for foreign markets. With this investment, the South American country will become one of the great players in the global biofuel market.
Souce: Press Office ECB Group
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