SkyNRG Closes Financing to Build Dutch Facility for Sustainable Aviation Fuel
SkyNRG, a leader in sustainable aviation fuels, has secured full financing for its new production plant in the Netherlands. Located at the Delfzijl chemical plant in the country’s north, the facility will produce 100,000 tonnes of sustainable aviation fuel (SAF) yearly. It will also generate 35,000 tonnes of biobased by-products, including propane, butane, and naphtha.
Construction has already begun on the plant, known as DSL-01. The project employs HydroFlex technology from Topsoe and follows the hydroprocessed esters and fatty acids (HEFA) pathway. Technip Energies serves as the engineering, procurement, and construction (EPC) contractor. The plant is expected to start operation by mid-2028, with Dutch airline KLM as the primary purchaser of the SAF produced.
SkyNRG says this is the first commercial-scale SAF facility to obtain non-recourse project financing, a financial structure typical for large industrial efforts. The development phase took seven years, including permits and securing funding. SkyNRG has expanded beyond sourcing and distributing SAF. It now owns and operates production sites and has projects in the U.S. and Sweden.
The project brings together several shareholders, including KLM, Macquarie Group, Dutch pension fund APG, and minority investors. Evercore acted as the sole equity financing advisor. Clifford Chance provided legal advice. Crédit Agricole Corporate and Investment Bank led the financial advisory team, assisted by ABN AMRO Bank. A consortium of lenders provided debt financing. ING Bank acts as the facility agent.
SkyNRG CEO Maarten van Dijk expressed gratitude for the support from investors, lenders, and project partners. He credited their long-term commitment for allowing the project to move from planning to construction. Van Dijk also praised the team for navigating challenges to reach this milestone.
The SAF produced at DSL-01 is expected to reduce greenhouse gas emissions over its lifecycle by around 80%, eventually improving to more than 90%. This improvement will come from greater use of Dutch renewable energy and less reliance on natural gas. The project aims to bolster the green industrial cluster in the Groningen region. It supports sustainability goals set by Groningen Seaports and the Province of Groningen.
Beyond the Netherlands, SkyNRG is developing ‘Project Wigeon’ in the Pacific Northwest of the United States, partnering with Boeing. In Sweden, the ‘SkyKraft’ project plans to make eSAF using renewable electricity, green hydrogen, and biogenic CO2. Van Dijk emphasized the need to increase global SAF production to allow future generations to continue flying in a cleaner way. He called SAF a vital tool to decarbonize aviation and meet climate goals.
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