Italys’ Eni plans to invest up to $885m in a US biorefinery project which it will operate with partner PBF Energy. On February 16, the energy giant announced its subsidiary, Eni Sustainable Mobility, had entered into a joint venture with American firm PBF to operate the St Bernard Biorefinery in Louisiana. 

The plant is already under construction and is due to start operations in the first half of 2023. It will produce hydro-treated vegetable oil — better known as renewable diesel, and will have a production capacity of 306 million gallons per year.

Eni will invest $835m, plus up to additional $50m subject to the achievement of project milestones. In a statement dated February 16, CEO of Eni Sustainable Mobility, Stefano Ballista, said the deal enables the firm to enter the growing US biofuels market. 

Stellantis opens Polish R&D facility

European automaker Stellantis has chosen the Polish city of Gliwice for its eighth global software hub. The Dutch-headquartered firm plans to hire a team of 300 people who will focus on data analytics and software development and validation. 

In a statement dated February 15, the Dutch-headquartered firm said the hub’s location leverages expert technical and university-level education facilities in the region. It will be located just 27 kilometres from Stellantis’s manufacturing plant in the city of Tychy.

The investment is part of Stellantis’s Dare Forward 2030 strategy which includes the design of software-defined vehicles that offer customer-focused features, the firm said in its statement. Its other software hubs are in Brazil, France, Germany, India, Italy and the US. 

RWE and Ferrovial partner on offshore wind

Germany’s RWE is teaming up with Madrid-headquartered Ferrovial to investigate floating offshore wind opportunities in Spain. Yesterday, the firms announced they would analyse the joint development, construction and operation of projects off the Spanish coast.

RWE has already invested in Spain’s solar and onshore wind sectors. “Now we are excited to go one step further. Floating offshore wind is key to meeting the increasing demand for renewable power in Europe,” said Sven Utermöhlen, CEO of the firm’s offshore wind business. 

Spain’s Offshore Wind Roadmap notes states that the government is targeting 3three gigawatts of floating offshore wind capacity by 2030 and that floating is the preferred technology given the depths of its coastal waters.

And finally: Portugal became the second EU nation to scrap its golden visa programme in as many days. On February 16, prime minister António Costa announced the government would end the scheme as part of a suite of measures to tame the country’s soaring house prices. It comes one day after Ireland closed its investment-for-residency programme.