Roundup: Rigi evaluation committee, HEFA expressions of interest

Rigi project evaluation

Argentina’s government issued a resolution establishing a committee to evaluate projects that want to adhere to the Rigi investment-promotion regime.

Members will include economy ministry and other cabinet officials, with the door left open for other government decision-makers to join and for external experts to provide technical support.

Committee members will evaluate investment plans presented by the corresponding special purpose vehicles and issue approval or rejection recommendations. 

A coordination and monitoring unit is also established, led by the energy and mining coordination division. 

Rigi is part of Argentina’s economic framework law, designed to ease state control over the cash-strapped economy and spur investment.

Under Rigi, qualifying projects will receive tax, customs and forex benefits, with legal and regulatory stability for 30 years. Projects have two years to seek the benefits and have to deploy, within two years of getting the green light, at least 40% of the minimum investment agreed. 

President Javier Milei recently said that US$50bn in projects had been confirmed.

Synthetic fuels expressions of interest

Uruguayan state biofuels firm Alur is inviting companies to participate in a HEFA, or hydrotreated esters and fatty acids, project.

Alur launched an expressions of interest call, due to be followed by a selection process.

Vegetable oils and used cooking oil, along with animal fats and other fatty residual products, would be processed at parent Ancap’s La Teja oil refinery.

The objective of the call is to eventually bring on board the private sector to help produce and trade refinery output: hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF), the former typically used as a renewable fuel in road transportation. End products named by Ancap are biodiesel, SAF, bio-gasoline and bio-propane. 

 CREDIT: Ancap

Ancap has launched a procurement process for the provision of a process license and basic engineering for a hydroprocessing unit planned for La Teja, in Montevideo department. 

Last year, Ancap said studies were being carried out to determine the feasibility of adapting La Teja to produce SAF and diesel from non-fossil fuel feedstocks. 

In parallel, in July Ancap launched a call for expressions of interest in developing a liquid fuels logistics hub in Maldonado department. 

Uruguay depends in imported oil and gas and is working to obtain energy sovereignty via various pathways including green hydrogen and its derivatives.

Click here for more information on the HEFA call.