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.
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 B.C. government will support over 40 per cent of the project costs in the form of low-carbon fuel credits.
This report by The Canadian Press was first published May 9, 2022.
Companies in this story: (TSX:PKI)
The Canadian Press
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