BP Agrees to Purchase 50% Share of Joint Venture Partnership with Bunge in Brazil

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Researched by Industrial Info Resources (Sugar Land, Texas)--BP plc (NYSE:BP) (London, England) has agreed to purchase the remaining 50% stake owned by its American partner, Bunge Limited (NYSE:BG) (St. Louis, Missouri), in their joint venture BP Bunge Bioenergia, a leading player in the sugar-energy sector in Brazil.

BP Bunge Bioenergia will be fully incorporated into BP and will have at its disposal 11 sugarcane crushing mills in Brazil with the capacity to process 32.4 million metric tons of cane per harvest, and to produce 1.7 million metric tons of sugar, 1.7 billion liters of ethanol and 1,400 gigawatt hours (GWh) per year.

In a statement, BP said that the consolidation of the company will offer potential for new opportunities, such as "second generation ethanol, sustainable aviation fuel (SAF) and biogas." BP's purchase of Bunge's share is part of BP's strategy to invest about US$16 billion in 2024 and 2025.

Industrial Info is tracking 11 BP Bunge Bioenergia plants. Subscribers to Industrial Info's Global Market Intelligence (GMI) Food & Beverage and Alternative Fuel plant databases can click here for the plant profiles.

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