SkyNRG achieves financial close on Dutch SAF site
SkyNRG announced it has achieved financial close for its sustainable aviation fuel (SAF) production facility DSL-01 at the Delfzijl chemical park in the north of the Netherlands.
The site, once operational, will produce 100,000 tonnes of SAF each year and 35,000 tonnes of sustainable by-products including biobased propane, butane and naphtha.
“Reaching this important milestone in the development of our DSL-01 facility marks an important step in our transition to becoming an owner and operator of SAF production capacity,” said SkyNRG CEO & co-founder Maarten van Dijk said.
The plant will use the HEFA pathway using Topsoe’s HydroFlex technology.
Clifford Chance served as legal advisor for the company during project financing negotiations Crédit Agricole Corporate and Investment Bank serving as the financial advisor supported by ABN AMRO Bank N.V. as local financial & investment adviser.
The debt for the company was provided by a lenders consortium consisting of ABN AMRO Bank N.V., BNP Paribas, Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, ING Bank N.V., Mizuho Bank Ltd., Natixis, Sumitomo Mitsui Banking Corporation, Société Générale, Standard Chartered Bank, and UniCredit Bank Austria AG.
SkyNRG appointed ING Bank N.V. as facility agent.
The company was able to successfully close project and financing agreements after a seven-year development period.
SkyNRG has already begun construction with startup scheduled for mid 2028.
KLM – Royal Dutch Airlines is the primary off-taker for the SAF produced. The volumes support the airline in meeting its sustainability ambitions and its compliance with European regulatory requirements.
DSL-01 is the first commercial scale SAF plant to secure non-recourse project financing bringing together existing and new shareholders, including KLM, Macquarie Group, APG, and minority shareholders.
Evercore acted as sole equity financing advisor, while Technip Energies will serve as the EPC contractor.
SkyNRG would like to thank its Round A lenders; KLM, NOM, Groninger Groeifonds, SHV and Royal Schiphol Group, for their continued commitment and confidence in the DSL-01 project. Their long-term support has been instrumental in progressing the facility from development toward construction and in strengthening the foundations for SAF production in the Netherlands.