Varennes Carbon

Varennes Carbon Recycling Plant Project - CIB Loan

Borrower (s)
Varennes Carbon
Industry
Renewables/Biomass
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
Canada

Deal Overview

A C$277 million ($204 million) loan to a joint-venture partnership planning to build a biofuel facility in Quebec.The joint venture involving Shell, Suncor, Proman and the government of Quebec will build the Varennes Carbon Recycling (VCR) biorefinery to convert waste into biofuels and circular...

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A C$277 million ($204 million) loan to a joint-venture partnership planning to build a biofuel facility in Quebec.

The joint venture involving Shell, Suncor, Proman and the government of Quebec will build the Varennes Carbon Recycling (VCR) biorefinery to convert waste into biofuels and circular chemicals, based on a technology platform developed by Enerkem. The C$1.2 billion plant will include an electrolyser that will supply clean hydrogen and oxygen to convert more than 200,000 metric tons of non-recyclable waste and residual biomass into 130 million litres of biofuel annually.

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Deal Volume
$201.43m
Financial Close
27 March 2023

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Projects

Varennes Carbon Recycling Plant Project

Greenfield
Biomass
North America
Canada
$683m