Brazil's Raizen to sell second-generation ethanol to Shell
SAO PAULO, Nov 7 (Reuters) - Brazilian energy company Raizen SA said on Monday it has agreed to sell second-generation ethanol (E2G) produced from sugarcane biomass to Shell until 2037, under a program that includes building five new E2G plants.
Raizen, a joint venture between Shell and Cosan SA , said in a securities filing that investments in the program are expected to reach 6 billion reais ($1.19 billion).
Sales volume is seen reaching 3.3 billion liters, Raizen said, adding that under the minimum price set for its E2G, revenues are expected to hit at least 3.3 billion euros ($3.29 billion). ($1 = 5.0557 reais) ($1 = 1.0022 euros) (Reporting by Gabriel Araujo, Editing by Louise Heavens)
© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp