Repsol YPF and Abengoa have been awarded the European Commission prize for the Best European Industrial Venture in renewable energy.  This award was officially presented on October 24^th in Toulouse (France).

The prize-winning venture involves the obtention of 226 million litres per annum of bio-ethanol from fermented grain and transforming it at oil refineries into components for high octane gasoline with excellent environmental qualities.

Approximately half the above mentioned production is already operative.  A bio-ethanol plant belonging to Abengoa in Cartagena sends its product for transformation to the Repsol YPF refineries at Puertollano and La Coru�a.  Thus, gasoline sold in the areas of influence around these refineries already contains between 3 and 15% of renewable components from agricultural sources.  This project will reach completion in 2001, when Abengoa�s second bio-ethanol plant goes on stream in La Coru�a and the Repsol YPF refineries at Bilbao and Tarragona are to be incorporated.

The promotion of renewable energy is a priority issue in European Union energy policy because its use curtails CO₂ emissions, reduces dependence on imported energy, and favours regional development and job creation.