Could 10 (Renewables Now) – Canadian comfort retailer operator and gas retailer Parkland Crop (TSE:PKI) on Monday introduced a CAD-600-million (USD 461.7m/EUR 436.7m) undertaking to scale up the capability of its crude and artificial oil refinery in British Columbia and construct a brand new renewable diesel advanced on the website.
The plan envisages the development of a standalone facility throughout the firm’s Burnaby refinery to provide about 6,500 barrels of renewable diesel every day. Underneath the initiative, Parkland may even develop the co-processing volumes on the refinery to round 5,500 barrels per day. Choices are additionally being explored for the feasibility and availability of economic assist to provide sustainable aviation gas.
The undertaking can be supported by the British Columbia authorities, which has dedicated to overlaying round 40% of the required value within the type of BC Low-Carbon Gas Normal Compliance Credit. The majority of the capital funding is ready to be deployed in 2024 and 2025.
Parkland intends to make a closing funding choice within the second half of subsequent yr and is concentrating on manufacturing in 2026.
The Calgary, Alberta-based firm estimates that the renewable fuels produced at its Burnaby refinery may have one-eighth of the carbon depth of standard fuels and decrease associated greenhouse fuel emissions by roughly two megatonnes per yr.
(CAD 1.0 = USD 0.769/EUR 0.728)