Renta 4 | Repsol has obtained a 120 million euros mortgage from the European Funding Financial institution, which shall be earmarked for financing the corporate’s biofuels plant in Cartagena, Murcia. The funding for the C43 challenge would be180 million euros, in accordance with Repsol. It has already introduced it could perform investments aimed toward changing the plant into the primary superior biofuels plant with low Co2 emissions. The C43 challenge could have the capability to course of 300.000 tonnes of waste to supply 250.000 tonnes of biofuels like hidrodiesel, biojet, biondiesel and biopropane. To try this, the corporate will use waste like used cooking oil, amongst different issues. The challenge is predicted to be operational in 2023.
The EIB can even earmark a part of the financing for programmes for investigating new superior biofuels applied sciences within the Repsol Expertise Lab which has its HQ in Madrid.
Valuation: Constructive impression. With the funds granted by the EIB for the C43 challenge, Repsol obtains roughly 67% of the funding necessities. The EIB is acknowledging the significance of the Spanish oil and gasoline group’s challenge in the case of persevering with with the transition in direction of zero emissions mobility.
We reiterate our OVERWEIGHT stance, with a goal value of 18,9 euros/share.
