Acelen Renewables secures $1.5 bn financing for Brazil SAF and renewable diesel plant

Acelen Renewables, the renewable‑energy arm of Abu Dhabi’s Mubadala Capital, announced that it has secured US$1.5 billion to build a large‑scale biorefinery in the state of Bahia, Brazil. The facility, planned to start operations in 2029, will use hydroprocessed esters and fatty acids (HEFA) technology to produce up to one billion litres per year of sustainable aviation fuel (SAF) and renewable diesel.

The financing package is led by HSBC and the International Finance Corporation and brings together a ten‑institution consortium that includes First Abu Dhabi Bank, Abu Dhabi Commercial Bank, IDB Invest, Brazil’s BNDES, the Asian Infrastructure Investment Bank, FinDev Canada, Germany’s KfW IPEX‑Bank, Bradesco, Spain’s BBVA and the Bank of China. The project will cultivate about 144,000 ha of degraded land, allocate 20 % of the area to family‑farm partnerships, and aims to generate jobs and promote socioeconomic development while meeting stringent sustainability standards.