Brazil’s BNDES approves $45.2m for Acelen’s SAF project

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The Brazilian Development Bank (BNDES) has announced a significant investment of R$257.9m ($45.2m) for Brazilian energy company Acelen to establish an agro-industrial center in Montes Claros, Minas Gerais.

The project will focus on the cultivation and processing of macaúba, a native Brazilian palm tree known for its high oil content. Acelen plans to cultivate 180,000 hectares of macaúba in Minas Gerais and Bahia, with a portion of the production sourced from small-scale family farms.

The company’s innovation center in Montes Claros will conduct research and development into new macaúba varieties, breeding techniques, and efficient oil extraction methods. This research is expected to lead to higher yields and improved quality of the fuel.

Once operational, the biorefinery in Montes Claros will have the capacity to produce 20,000 barrels of renewable fuel per day, including SAF.

The total investment in the project is estimated at $2.7bn.

Luciana Costa, BNDES’s director of infrastructure, energy transition, and climate change, emphasised the importance of this initiative in Brazil’s efforts to reduce carbon emissions and promote sustainable development.

“With this project, Brazil is positioning itself as a global leader in the production of SAF,” she stated.

The BNDES’s investment in Acelen’s project is a major step forward in Brazil’s transition to a low-carbon economy.

By supporting the development of renewable fuels, BNDES is not only addressing climate change but also creating new economic opportunities and promoting rural development.

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