Trading Emissions to invest in Brazil biodiesel

02 August 2007 21:54  [Source: ICIS news]

HOUSTON (ICIS news)--UK-based Trading Emissions PLC (TEP) said on Thursday it would finance the construction of a biodiesel plant in Brazil in partnership with Bionasa Combustivel Natural.

TEP said it would invest Brazilian reais (R) 125m ($66.1m) in Bionasa and that the funds would be used to build a 200,000 tonne/year biodiesel plant in the Brazilian state of Goias.

The construction of the plant was scheduled to begin in July 2008, the company said.

TEP said it has secured the rights to commercialise all certified emissions reductions that may be produced by the project.

Brazil biodiesel production is on the rise, as the country will mandate a 2% blend in conventional diesel in 2008. That figure will jump to 5% in 2013, according to legislation approved in 2005.

Brazil’s biodiesel capacity, now estimated at 924m litres (244m gal)/year, is expected to soar to 2bn litres/year by the end of 2007.

($1 =R1.89)

By: William Lemos
+1 713 525 2653

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