Investment Plan helps Spanish energy company CEPSA to become greener

The European Investment Bank (EIB) is providing €60 million in financing to Spanish energy company CEPSA to develop and implement more sustainable and efficient technologies in its production process.

The chemicals plant based in San Roque, Cádiz, will become the first operational plant in the world to install the ‘Detal’ system. This technology improves the efficiency of the manufacturing process, cuts CO2 emissions and reduces water and electricity use. It also optimises the production process as it both reduces waste and enables much of it to be reused. The ‘Detal’ system also delivers major safety improvements.

The project, which will create 250 new jobs, is backed by the Investment Plan’s European Fund for Strategic Investments (EFSI). Paolo Gentiloni, Commissioner for the Economy, said:

A central message of the European Green Deal Investment Plan I presented in January is that all actors must play their part to make the climate transition a success. This agreement signed with CEPSA is a tangible example of how Europe can support companies’ efforts to become greener and more energy efficient – while leading the way in innovation.

As of December 2019, the Investment Plan has mobilised €458.8 billion of investment across the EU, including €49.8 billion in Spain, and supported more than one million start-ups and small and medium businesses.

A press release is available in English and in Spanish.