Neste's Expansion: SAF Chain to Changi Airport Opens
Neste has successfully completed its €1.6 billion Singapore expansion project and celebrated its official opening. This expansion doubles the company's production capacity in Singapore and boosts the refinery's total capacity to 2.6 million tonnes per year, including up to one million tonnes of sustainable aviation fuel (SAF).
By achieving this milestone, Neste solidifies its position as the world's leading producer of SAF. The expanded raw material pre-treatment capacity also enhances Neste's ability to process more challenging waste and residue raw materials.
During the opening ceremony, Matti Lehmus, Neste's President and CEO, expressed gratitude to the company's partners and employees for their dedication in completing the refinery construction amid the complexities of a global pandemic. This achievement represents a significant step forward in executing Neste's renewables growth strategy.
Neste is committed to supporting the global aviation industry in its efforts to achieve net-zero emissions by 2050. Additionally, the company is pleased to contribute to Singapore's ambitious emission reduction targets outlined in the Green Plan 2030 and the forthcoming Sustainable Air Hub Blueprint, set to be completed later in 2023.
To directly provide blended Neste MY Sustainable Aviation Fuel™ to airlines at Singapore Changi Airport, Neste has agreed to acquire a stake in Changi Airport Fuel Hydrant Installation Company Pte Ltd. (CAFHI), a joint venture responsible for fuel storage and infrastructure at the airport. The completion of this transaction is subject to customary closing conditions.
The use of Neste's SAF can reduce greenhouse gas emissions by up to 80% over the fuel's lifecycle compared to conventional jet fuel. By the end of 2023, Neste's total SAF production capability will reach 1.5 million tonnes per year, with further expansion expected to reach 2.2 million tonnes by the first half of 2026 when the modifications and expansion of the Rotterdam refinery are completed.
In December 2018, Neste announced its final investment decision to increase renewable products production capacity in Singapore, showcasing its long-term commitment to sustainable solutions and renewable energy production.
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