Acelen Renewables raises US$1.5bn to build SAF/HVO biorefinery in Bahia
- US$1.5 billion financing secured, led by HSBC and IFC with ten domestic and international lenders.
- Biorefinery will produce 1 billion litres/year of Sustainable Aviation Fuel (SAF) and Renewable Diesel (HVO), expected to begin operations in 2029.
- First integrated production unit represents more than US$3 billion in investment and includes a macaúba agro‑industrial ecosystem with ~144,000 hectares (20% for family farms).
- Integrated engineering is complete, ~90% of biofuels commercialization volumes are contracted, and partners include Honeywell UOP, Alfa Laval, Construcap and commercial offtakers such as Trafigura and Bunge.
Financing and partners
Acelen Renewables secured US$1.5 billion to start construction of a renewable fuels biorefinery in Bahia, financed by a consortium led and supported by HSBC and the International Finance Corporation (IFC) alongside ten institutions including FAB, ADCB, IDB Invest, BNDES, AIIB, FinDev Canada, KfW IPEX‑Bank, Bradesco, BBVA and Bank of China. IFC acted as global coordinator and lead arranger after technical, environmental and social due diligence, and the project will comply with IFC sustainability and governance standards.
Project scope and timeline
The facility, sited at an existing industrial complex in São Francisco do Conde, Bahia, will use HEFA (Hydroprocessed Esters and Fatty Acids) technology to produce 1 billion litres per year of SAF and HVO and is expected to begin operations in 2029. The company says integrated engineering is complete and strategic contracts have been negotiated.
Feedstocks and land use
Production will use conventional feedstocks such as soybean oil and used cooking oil (UCO), plus macaúba, a native crop. The plan includes cultivating approximately 144,000 hectares on degraded land, with 20% allocated to partnerships with family farming operations and small producers as part of an agro‑industrial ecosystem.
Commercial readiness and impacts
About 90% of biofuels commercialization volumes (SAF and HVO) are already structured and contracted; technology and construction partners named include Honeywell UOP, Alfa Laval and Construcap, with commercial agreements involving Trafigura, Moeve, Bunge and BGN. Peak construction is expected to generate roughly 3,600 direct and indirect jobs. A Fundação Getulio Vargas study cited in the release estimates the integrated value chain could generate up to US$40 billion and some 85,000 direct and indirect jobs over the next decade.
Source: Acelen Renewables
