Repsol, Mexican Firm Form Biofuels Venture
Repsol and Group KUO of Mexico City have formed a 50-50 company based in Mexico to develop a biofuels business based on jatropha curcas, an oil seed with a high content of inedible oil.
The new company, KUOSOL, initially will plant and cultivate 10,000 hectares of jatropha curcas on barren land in Yucatan, Mexico. In addition to the oil seed, the bush also yields large amounts of biomass for use in the generation of steam and electrical power.
Repsol said the project, with an initial investment of $80 million, will meet European Union Renewable Energy Directive requirements for cuts in greenhouse gas emissions.
Group KUO in 2008 began a 300-hectare pilot project to produce biodiesel from jatropha curcas oil seeds in Yucatan.
(OGJ Nov. 2010)