SkyNRG has reached financial close for its first dedicated Sustainable Aviation Fuel (SAF) production facility, DSL-01, located at the Delfzijl chemical park in the north of the Netherlands. The milestone marks the transition from project development into the construction phase, following a seven-year development period.
Project capacity and production pathway
Once operational, DSL-01 is expected to produce 100,000 tonnes of SAF annually, alongside 35,000 tonnes of sustainable by-products, including biobased propane, butane and naphtha. The facility will use the hydroprocessed esters and fatty acids (HEFA) production pathway, enabled by Topsoe’s HydroFlex technology.
The SAF produced at the facility is expected to deliver lifecycle greenhouse gas reductions of approximately 80 per cent compared to fossil jet fuel. This reduction is projected to increase to more than 90 per cent over time, supported by increased availability of Dutch renewable energy and reduced reliance on natural gas.
Regional and industry role
The project is expected to contribute to the development of the regional green industrial cluster and supports sustainability objectives set by Groningen Seaports and the Province of Groningen.
With permits approved and project and financing agreements completed, construction has now commenced. Facility start-up is expected in mid-2028. KLM – Royal Dutch Airlines has been confirmed as the primary off-taker for the SAF produced at DSL-01. The volumes are intended to support the airline’s sustainability targets and compliance with European regulatory requirements.
Financing structure and partners
DSL-01 is described as the first commercial-scale SAF plant to secure non-recourse project financing. The project brings together existing and new shareholders, including KLM, Macquarie Group, APG and minority shareholders.
Evercore acted as sole equity financing advisor and Clifford Chance served as legal advisor. Technip Energies has been appointed as EPC contractor, supported by a combination of global and national suppliers and subcontractors.
Financial support for the project includes a consortium of international investors, commercial lenders and advisors. Crédit Agricole Corporate and Investment Bank acted as lead financial advisor, supported by ABN AMRO Bank N.V. as local financial and investment adviser.
Debt financing was provided by a lender consortium including ABN AMRO Bank N.V., BNP Paribas, Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, ING Bank N.V., Mizuho Bank Ltd., Natixis, Sumitomo Mitsui Banking Corporation, Société Générale, Standard Chartered Bank and UniCredit Bank Austria AG. ING Bank N.V. has been appointed Facility Agent.
SkyNRG also acknowledged continued support from Round A lenders including KLM, NOM, Groninger Groeifonds, SHV and Royal Schiphol Group.
Strategic development of SAF production capacity
The project reflects SkyNRG’s transition from SAF sourcing and distribution towards direct ownership and operation of SAF production facilities.
SkyNRG CEO and Co-Founder Maarten van Dijk said reaching financial close represents an important milestone in expanding SAF production capacity and supporting aviation decarbonisation.
Broader project portfolio
In parallel with DSL-01, SkyNRG is developing Project Wigeon in the Pacific Northwest of the United States in partnership with Boeing. In Northern Sweden, the company is developing Project SkyKraft with Skellefteå Kraft, focused on e-SAF production using renewable electricity, green hydrogen and biogenic CO₂.
SOURCE AND IMAGE: ©SkyNRG
