Braya Renewable Fuels | Come-by-Chance Refinery Conversion
Canada
Operational
Overview
Status
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Operational
Region
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North America
Geography
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Canada
State
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Newfoundland and Labrador
Equity Owner
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Braya Renewable Fuels (Cresta Fund Management, Silverpeak)
Proponent
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Braya Renewable Fuels (Cresta Fund Management, Silverpeak)
Output
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Renewable diesel
Sustainable aviation fuel
Type of electricty
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Capacity
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18,000 b/d (phase 1), 36,000 b/d (phase 2)
Financing
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CAD $75m senior secured term loan (HPS Investment Partners)
Technology
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Technical Advisors
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Advisors
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Project Contact
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Frank Almaraz, CEO, Braya Renewable Fuels
Lawyers
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Project Cost
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Offtaker
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Macquarie Energy Canada
Commercial Operations Date
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2023
Decommission Date
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FID
-
Description
The conversion of a Newfoundland refinery into a renewable fuels production facility for renewable diesel and sustainable aviation fuel.
The 130,000-b/d refinery was formerly owned and operated by NARL Refining LP. It halted production in 2020.
Cresta Fund Management acquired a controlling interest in the refinery from Silverpeak in November 2021.
Silverpeak still holds a minority interest in Braya Renewable Fuels.
Energy Capital Partners made a $300m preferred equity investment into Braya in April, 2023.
Phase 1 will retrofit a portion of the refinery to process feedstocks, which include soybean oil and distiller’s corn oil, into 18,000 barrels per day of renewable diesel. Minor additional equipment may be added to produce sustainable aviation fuel.
Phase 2 will add facilities to convert less expensive feedstocks for additional hydrogen production, which will in turn increase renewable diesel production to 24,000 bpd.
The refinery will receive green hydrogen from the adjacent Toqlukuti’k Wind and Hydrogen Project, which Braya Renewable Fuels is co-developing with ABO Wind.
The refinery reached COD in February 2024.