Energy Capital Partners

In April of 2023, ECP invested in Braya Renewable Fuels, the owner of the Come By Chance refinery in Newfoundland, Canada, an idled oil refinery that is converting to renewable diesel and sustainable aviation fuel operations. The repurposed petroleum refinery is strategically located to source a variety of low-carbon intensity feedstocks to produce fuels for a variety of end markets, and benefits from an in-place employee base that has been part of a successful ~50 year operating history as a conventional fuels refinery. Renewable diesel and sustainable aviation fuel help decarbonize the medium & heavy-duty transportation and aviation sectors, respectively — combined, these fuels provide alternatives to fossil fuels and reduce the emissions associated with these hard-to-abate sectors. ECP’s investment is expected to fund the remainder of the conversion project’s costs. The project will initially supply 18,000 barrels per day of renewable diesel with incremental upside from the ability to pursue accretive growth projects to expand capacity and begin production of sustainable aviation fuel and source green hydrogen. The Government of Canada is helping businesses and workers across thecountry seize the economic opportunities associated with the global drive forclean growth — delivering good, middle-class jobs, strong local economies andclean air for generations to come.