Tidewater: Renewable diesel production ramps up, work continues on proposed SAF project
May 9, 2024
BY Erin Voegele
Tidewater Renewables Ltd. on May 9 reported that its renewable diesel facility in Prince George, British Columbia, operated well during the first quarter. The company also made significant progress on the front-end engineering design (FEED) for its proposed sustainable aviation fuel (SAF) project.
Tidewater’s renewable diesel and renewable hydrogen (HDRD) complex in Prince George currently has a nameplate capacity of 3,000 barrels per day. The complex achieved average daily throughput of approximately 2,120 barrels per day during the first quarter, representing a 71% utilization rate. The utilization rate expanded to approximately 95% in April and the HDRD complex is currently expected to achieve an 85% utilization rate for the full year 2024, which equates to an average daily throughput rate of 2,550 barrels per day.
The company said the HDRD complex’s strong operating performance during the first quarter was supported by robust demand for renewable fuels and record Canadian emissions credit pricing.
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Also during the first quarter, Tidewater said it made significant progress on FEED for its proposed 6,500-barrel-per-day SAF project. The company said it continues to progress commercial arrangements and is evaluating potential offtake agreements for SAF. A final investment decision is expected in 2025.
During an earnings call, Tidewater CEO Jeremy Baines said the company is very focused on the proposed SAF project and has significant parts of its team working on getting all the things that go into FEED complete, including stakeholder consultations and regulatory approvals. The company is also working to develop a renewable natural gas (RNG) project. Baines said the RNG project is working through some regulatory permitting but is not the main focus of the Tidewater team at this time.
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