Spanish energy company CEPSA to become greener with EU help

The European Investment Bank (EIB) is providing €60 million in financing to Spanish energy company CEPSA to develop and implement more sustainable and efficient technologies in its production process, the European Commission said.
The chemicals plant based in San Roque, Cádiz, will become the first operational plant in the world to install the ‘Detal’ system. This technology improves the efficiency of the manufacturing process, cuts CO2 emissions and reduces water and electricity use. It also optimises the production process as it both reduces waste and enables much of it to be reused. The ‘Detal’ system also delivers major safety improvements. The project, which will create 250 new jobs, is backed by the Investment Plan’s European Fund for Strategic Investments (EFSI).
EU Economy Commissioner Paolo Gentiloni noted that a central message of the European Green Deal Investment Plan I presented in January is that all actors must play their part to make the climate transition a success. “This agreement signed with CEPSA is a tangible example of how Europe can support companies’ efforts to become greener and more energy efficient – while leading the way in innovation,” he said.
At the signing ceremony in Madrid, EIB Vice-President Emma Navarro highlighted the fact that this project “will help a Spanish multinational to lead the petrochemical industry towards a more environmentally friendly model. With this agreement, the EIB is contributing to the achievement of the EU’s climate and environmental objectives by supporting investments enabling CEPSA to develop new innovative and resource-efficient production processes. We are pleased that these cutting-edge technologies are being installed at a factory in Andalusia, helping to create jobs and foster social and territorial cohesion.”
CEPSA CEO Philippe Boisseau added: “We are grateful for all of the EIB’s support and for its interest in moving towards safer and more sustainable industrial processes. This project will not only enable us to reduce the impact of our operations (a priority for CEPSA), but also to improve the quality of our output and increase the versatility of the San Roque plant, adapting to the specific requirements of each customer and strengthening international competitiveness. Without a doubt, it is our experience and capacity for innovation in this sector that has enabled us to tackle such a unique project.”
As of December 2019, the Investment Plan has mobilised €458.8 billion of investment across the EU, including €49.8 billion in Spain, and supported more than one million start-ups and small and medium businesses.