BP paralyses 2,000 million investment because government has not transposed European renewables directive for over two years


BP is waiting for the government to transpose the European renewables directive to unblock its plan for the Castellón refinery. Andrés Guevara, president of BP Spain, said yesterday that “hundreds of millions” worth of investments have been paralysed by the delay of the Ministry for Ecological Transition in the transposition of a European directive. According to “Economía Digital”, the governments of Germany and the Netherlands have already taken this step, while Pedro Sánchez’s has not. The result is a lack of legal certainty that forces the handbrake on the investments planned for the Castellón refinery.

After a conference at the eMobility Expo that kicked off yesterday in Valencia, the president of BP Spain assured that there are “hundreds of millions of dollars a year at stake if we do not have the right regulatory conditions to make the final investment decision”. He placed the responsibility on Teresa Ribera, as Minister for Ecological Transition (Miteco) because “the transposition is fundamental because it has the regulatory framework that is needed for the production of biofuels that use hydrogen as an input. That is what we are missing”.

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