Brazil's Raizen to sell second-generation ethanol to Shell
11/7/2022 11:58:26 AM
(Reuters) - Brazilian energy company Raizen said it has agreed to sell second-generation ethanol (E2G) produced from sugarcane biomass to Shell SHEL.L until 2037, under a program that includes building five new E2G plants.
Raizen, a joint venture between Shell and Cosan, said in a securities filing that investments in the program are expected to reach $1.19 B.
Sales volume is seen reaching 3.3 B liters, Raizen said, adding that under the minimum price set for its E2G, revenues are expected to hit at least 3.3 B euros ($3.29 B).
(Reporting by Gabriel Araujo, Editing by Louise Heavens)
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