# EIB and Eni Secure €500 Million for Biorefinery Conversion
The European Investment Bank and energy company Eni have finalized a 15-year loan agreement valued at €500 million to support the conversion of the Sannazzaro facility into a biorefinery. The financing arrangement represents a significant capital commitment toward transforming traditional refining infrastructure into sustainable fuel production capability.
The conversion of existing refinery assets to biorefinery operations has become an increasingly strategic priority across Europe as the maritime and energy sectors accelerate their transition toward cleaner fuels. Biorefineries enable the production of sustainable fuels, including biofuels and advanced renewable diesel products, which can be blended with or substituted for conventional marine fuels. This conversion model preserves industrial capacity and employment while aligning with the EU’s climate objectives and the IMO’s decarbonization targets for shipping.
The Sannazzaro project underscores the growing investment in shore-based infrastructure necessary to support the maritime industry’s fuel transition. As vessel operators face increasing pressure to reduce emissions, secure supply chains for compliant fuels become essential. Refineries retooled for biorefinery operations will be critical nodes in supplying the sustainable marine fuels that shipowners increasingly require. This financing signals confidence from major European institutions in the long-term viability of biofuel markets and the economic case for converting legacy refining assets to meet evolving fuel demand in shipping and beyond.