Stonepeak may pour USD 600m in Washington SAF project

Author: Gabriel Jorby.

March 24 (Renewables Now) - Northwest Advanced Bio-Fuels LLC (NWABF) yesterday announced that Stonepeak Infrastructure Partners is willing to provide USD 600 million (EUR 506.7m) for NWABF’s sustainable aviation fuel (SAF) project in Washington State.

The companies have signed a memorandum of understanding (MoU) detailing the construction equity commitment by the New York-based infrastructure-focused private equity firm. The Stonepeak investment, arranged by Morgan Stanley & Co LLC as placement agent, would be mainly used to fund the construction of the facility and repay earlier development, design and engineering stage costs.

NWABF’s project will produce more than 60 million gallons per year of SAF/renewable biofuels using cellulosic feedstock. It has a long-term off-take agreement with Delta Air Lines.

The bio-jet fuel refineries developer says this is the largest announced second-generation cellulosic renewable bio-jet fuel project globally.

Sustainable aviation fuels based on bio- and synthetic fuels can reduce emissions by up to 80% during the full lifecycle.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription