CALGARY — Parkland Corp. says it plans to spend $600 million to increase renewable fuel production at its Burnaby refinery in British Columbia.
The Calgary-based fuel retailer says it will ramp up the amount of renewable material it currently refines alongside traditional petroleum-based materials by 5,500 barrels per day.
Renewable fuels are produced using organic feedstocks like plant oils, fats and forestry waste.
Parkland says it also plans to build a stand-alone renewable diesel complex within the Burnaby refinery, capable of producing 6,500 barrels per day.Â
The company says the renewable fuel it produces will have one-eighth of the carbon intensity of conventional fuels and reduce related greenhouse gas emissions by approximately two million tonnes per year.
Parkland says the sa¹ú¼Ê´«Ã½ government will support over 40 per cent of the project costs in the form of low-carbon fuel credits. Â
This report by The Canadian Press was first published May 9, 2022.
Companies in this story: (TSX:PKI)
The Canadian Press