Repsol Approves 800M Euros Investment for Circular Methanol Production

Repsol S.A. REPYY, a Spanish multi-energy company, has greenlighted an investment of over €800 million in a planned renewable methanol plant in Spain.The plant, called Ecoplant, is expected to be able to process nearly 400,000 tons of municipal solid waste every year and turn them into 240,000 tons of renewable fuels and other circular products. Repsol’s announcement came shortly after Spain’s parliament turned down the extension of a temporary windfall tax that would be levied on large energy firms.Per Repsol, the plant in Tarragona is the first of its kind in Europe to produce renewable methanol from solid waste through a gasification process. The plant is expected to start operations in 2029. Repsol also mentioned that the facility will be integrated with its industrial complex in Tarragona. This should enable the company to leverage its existing amenities in the industrial complex in Tarragona and help the center transform into a multi-energy hub.The renewable and circular methanol production project by Repsol has also received support from the European Union (EU). The project shall receive funds from the EU’s Innovation Fund program for its potential to support a reduction in emissions. The fund is aimed at supporting low-carbon initiatives. The European Commission estimated that the project could reduce nearly 3.4 million tons of CO2 emissions within the first ten years of its start-up.The EU aims to cut down the carbon intensity of energy used by maritime transport, which is one of the largest contributors to emissions globally. It plans to reduce nearly 40% of emissions by 2030 compared to 2018 levels and 75% by 2050 from the 2020 levels. In order to meet these reduction goals, the most efficient alternative known is renewable diesel, which is already manufactured by Repsol at its Cartagena plant, and renewable methanol, produced at Repsol’s new plant in Tarragona.REPYY’s Zacks Rank and Key PicksREPYY currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Sunoco LP SUN, Matador Resources MTDR and Archrock Inc. AROC. Sunoco currently sports a Zacks Rank #1 (Strong Buy), while Matador Resources and Archrock carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.Matador Resources is a leading U.S.-based exploration and production firm. The company has consistently exceeded production expectations, demonstrating operational efficiency and robust growth. The company’s production efficiency, combined with the favorable oil price environment, is expected to positively impact its bottom line.Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sunoco LP (SUN): Free Stock Analysis Report Repsol SA (REPYY): Free Stock Analysis Report Matador Resources Company (MTDR): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks