GA_P advises Cepsa on its joint venture with Bio-Oil

Gómez-Acebo & Pombo has advised Cepsa on its joint venture with Bio-Oil to build the largest second-generation biofuels plant in southern Europe, as well as on the global and long-term agreement signed with Grupo Apical, Bio-Oils’ parent company in Huelva, through which the new plant will secure the majority of the feedstock supply from organic waste.

The plant will produce 500,000 tonnes of PBS and renewable diesel annually in a flexible manner to contribute to the decarbonisation of aviation, maritime and land transport, enabling CO2 emissions to be reduced by up to 90% compared to the use of traditional fuels. This alliance is also expected to create around 2,000 jobs.

With this union, Cepsa will reinforce its strategy to lead biofuels in Spain and Portugal, aspiring to become the leading supplier of 2G biofuels in both countries.

Advising on the transaction were: Ignacio de la Fuente and Ignacio Castellanos, senior associates of Commercial and Public, respectively, with the collaboration of Íñigo Erláiz, managing partner, Estibaliz Aranburu, Mónica Weimann, and Javier Reyna partners and associate of Commercial; Juan Ignacio Romero and Manuel Delgado of counsel and associate of Public; Javier Vinuesa and Iván Escribano, partner and associate of Tax, Miguel Troncoso and Laura Lence partner and associate of Competition and EU Law.

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