BP and Bunge joint venture in Brazil
BP and Bunge announced that they have completed the formation of BP Bunge Bioenergia, the Brazilian bioenergy joint venture that combines their Brazilian bioenergy and sugarcane ethanol businesses
The continued growth of biofuels will be a key enabler to decarbonising transportation. Brazil is one of the world’s largest and fastest growing markets for biofuels and, through this transaction, BP Bunge Bioenergia is now the second largest operator by effective crushing capacity in the Brazilian bioethanol market.
Mario Lindenhayn from BP will be the executive chairman of BP Bunge Bionergia and Geovane Consul from Bunge will be chief executive. BP and Bunge have equal representation on the board of directors of the company.
Mario Lindenhayn said: “Biofuels is an increasingly important part of a lower carbon energy system. We are proud to complete the formation of BP Bunge Bioenergia, which provides a strong foundation to build upon the capabilities of both organisations to develop ideas for growth and deliver significant operational and financial synergies.”
Source / More : BP
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