| British Airways pledges 10-year offtake agreement as GreenSky project with Solena gathers momentum | |||
Fri 30 Nov 2012 – The British Airways and Solena GreenSky London project to build a sustainable jet biofuel facility in East London is gaining momentum, say the two partners. They won’t reveal the location but an exclusive option on a site for the facility and consent work has begun, with the aim of having it operational and in production by 2015. The airline has now confirmed its commitment to purchasing, at “market competitive” prices, the anticipated 50,000 tonnes of jet fuel produced annually by the plant for the next 10 years, which equates to around $500 million at today’s price for conventional jet kerosene. Barclays has been appointed as advisor to explore the optimal funding through export credit agencies and the consortium providing the facility’s key technology functions has also been announced. British Airways expects enough sustainable fuel be produced to power two per cent of its fleet departing from London Airports. … Around 500,000 tonnes of municipal waste normally sent to landfills will be converted annually into 50,000 tonnes of biodiesel, bionaphtha and renewable power at the facility as well as the 16 million gallons of jet fuel. Solena Fuels Corporation will provide the proprietary high-temperature gasification process that converts the waste into synthetic gas and the overall Integrated Biomass Gasification to Liquids (IBGTL) solution. |
