Tidewater Midstream and Infrastructure has joined a JV with Tidewater Renewables to develop a new sustainable aviation fuel plant in British Columbia.
Tidewater Renewables completed a feasibility assessment for an expansion of its renewable fuel facilities, and in the first quarter of 2024 Tidewater Renewables and Tidewater entered into a joint development agreement related to a new 6,500 bbl/day renewable diesel and sustainable aviation fuel project in British Columbia.
The parties have the right to participate in up to 50% of the project upon a final investment decision.
Tidewater Renewables is the developer and operator of the Renewable Diesel and Renewable Hydrogen (HDRD) complex in Prince George, BC, which began operating at design capacity in late February.
The company is now looking forward to new opportunities in renewable fuels, CEO Jeremy Baines said on an investor call today. Baines took over as CEO of Tidewater in January.
“We recently entered into an agreement with the BC government to provide support for FEED work to provide us with a plan and capital cost estimate for a sustainable aviation fuel refinery,” he said.
“We have kicked off the study with a major global engineering firm,” he added, noting that the company hopes to have a bankable FEED study complete in the first half of 2025.
“In parallel, there is significant work underway on the commercial aspects of the projects, including significant interest in offtake from major airlines,” he said.
He added that the company is able to leverage its learnings from conventional and HDRD refineries.
