British Airways commits to 10-year, $500M purchase of sustainable jet fuel from GreenSky London
4 December 2012
British Airways last week announced its commitment to purchasing, at market competitive prices, the jet fuel to be produced by the GreenSky London sustainable low-carbon jet fuel plant. This equates to US$500 million at today’s prices. (Earlier post.)
GreenSky London is a flagship project that will see the construction of a facility that will annually convert approximately 500,000 tonnes of waste normally destined for landfill into 50,000 tonnes of sustainable jet fuel, 50,000 tonnes of biodiesel, bionaphtha and renewable power.
Solena Fuels Corporation will provide the high temperature gasification process that converts waste matter into synthesis gas and the overall Integrated Biomass Gasification to Liquids (IBGTL) solution. Oxford Catalysts Group/Velocys will supply the Fisher-Tropsch (FT) reactors and catalyst which will convert the cleaned synthesis gas into liquid hydrocarbons.
Fluor has started the pre-front end engineering and design (Pre-FEED) for the project. Fluor is a world leader in project execution and bio-fuel projects, and is providing engineering services to support Solena.
Barclays has also been appointed as advisor to explore the optimal funding through Export Credit Agencies. A Competitive Letter of Interest has been obtained from one of the Agencies including associated term funding.
GreenSky London has signed an exclusive option on a site for the facility and consent work for the site has begun. The partners aim to have the site operational by 2015.
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