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335823

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)

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