Compañía Española de Petróleos S.A.U. (Cepsa; Madrid, Spain; www.cepsa.com) has formalized the purchase offer for Abengoa’s biofuels plant in San Roque (Cádiz). The process concluded with Abengoa’s acceptance of Cepsa’s 8-million euro binding offer for the total purchase of the asset. With this operation, Cepsa culminates the integration of the biofuels production unit at its San Roque plant where fuels are produced from renewable sources. Abengoa started operations at the plant next to the refinery in 2009, but stopped production in 2015. This means the plant can continue to provide employment to its current 51 workers.
Cepsa believes the acquisition of the production unit, which is due to be fully operative again during 2017, is a great opportunity because of the new synergies the operation contributes to the Company.
Cepsa has set the development and integrated management of its biofuel business as a target for the coming years, which it plans to achieve by optimizing production and drawing on its experience and technical excellence.