SkyNRG reaches financial close for Dutch 100,000-tonne SAF facility

Sustainable aviation fuel pioneer SkyNRG has reached financial close on its DSL-01 SAF production plant in the Netherlands and has now started construction work at the Delfzijl chemical plant location in the north of the country. The HEFA plant will produce 100,000 tonnes of SAF per year plus a further 35,000 tonnes of sustainable by-products including biobased propane, butane and naphtha. Technip Energies will serve as the EPC contractor and the facility will use the HEFA pathway enabled by Topsoe’s HydroFlex technology. Start up is expected mid-2028, with KLM the primary off-taker for the SAF produced. SkyNRG says DSL-01 is the first commercial-scale SAF plant to secure non-recourse project financing, a structure used for large industrial projects. The company is also developing SAF projects in the United States and Sweden.

With all permits approved, the project and financing agreements complete a seven-year development period. “It reflects SkyNRG’s evolution from a company focused on sourcing and distributing SAF to becoming an owner and operator of SAF production capacity,” commented the company. “This milestone demonstrates growing market confidence in scalable fuel projects globally.”

The DSL-01 project brings together existing and new shareholders, including KLM, Macquarie Group, Dutch pension provider APG and minority shareholders. Evercore acted as sole equity financing advisor, while Clifford Chance served as legal advisor. The financial advisory role was undertaken by Crédit Agricole Corporate and Investment Bank as lead and supported by ABN AMRO Bank as local financial and investment adviser.

Debt was provided by a lenders consortium consisting of ABN AMRO, BNP Paribas, Coöperative Rabobank, Crédit Agricole, Deutsche Bank, ING Bank, Mizuho Bank, Natixis, Sumitomo Mitsui Banking, Société Générale, Standard Chartered and UniCredit Bank Austria. ING was appointed as the facility agent.

“We would also like to thank Round A lenders KLM, NOM, Groninger Groeifonds, SHV and Royal Schiphol Group for their continued commitment and confidence in the DSL-01 project,” said SkyNRG CEO and co-founder Maarten van Dijk. “Their long-term support has been instrumental in progressing the facility from development towards construction and in strengthening the foundations for SAF production in the Netherlands.

“I’m proud of our team and partners, who have worked tirelessly through complexity and overcome significant challenges to bring the project to this point.”

The lifecycle GHG reduction of SAF produced at DSL-01 is expected over time to rise from around 80% to more than 90%, driven by increasing reliability of Dutch renewable energy and reduced reliance on natural gas, says the company.

“The project will strengthen the regional green industrial cluster, contributing to the sustainability ambitions of Groningen Seaports and the Province of Groningen,” it adds.

SkyNRG is developing Project Wigeon in the US Pacific Northwest with global SAF partner Boeing, while in northern Sweden, it is progressing Project SkyKraft with Skellefteå, an eSAF facility that will produce SAF from renewable electricity, green hydrogen and biogenic CO2.

“It is crucial that we increase the global production of SAF to enable future generations to have the ability to fly when needed, and SAF plays a vital role in the decarbonisation of aviation,” said van Dijk.

Image: Render of the DSL-01 plant

Christopher Surgenor
Editor