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Phillips 66 reports full capacity milestone of renewable energy facility

The Rodeo Renewable Energy Complex will expand commercial-scale production to “position the company as a leader in renewable fuels." Photo via phillips66.com

Houston-based Phillips 66 announced the full conversion of a California renewable energy facility.

The Rodeo Renewable Energy Complex will expand commercial-scale production to “position the company as a leader in renewable fuels,” according to a news release.

The facility, located 200 miles south of San Francisco, California, increased rates to approximately 50,000 barrels per day (or 800 million gallons per year), which reached the company’s goal of achieving full capacity by the second quarter of 2024. This also aligns with its commitment to energy transition and provide customers with lower-carbon solutions.

The Rodeo complex has new pre-treatment units that process lower carbon intensity feedstocks like cooking oil, fats, greases and vegetable oil. It began producing approximately 30,000 barrels per day of renewable fuel at the end of the first quarter of 2024. Rodeo Renewed is designed to produce renewable diesel and sustainable aviation fuel, and was started in 2020, and mostly serves the West Coast and California areas.

“Phillips 66 has reached another important milestone, which is a testament to our employees’ dedication to achieving our company’s strategic priorities,” executive vice president of Refining Rich Harbison said in a news release. “The facility running at full capacity supports the growing demand for renewable fuels, lowers our carbon footprint and creates long-term value for our shareholders.”

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Dallas-based CBRE has acquired NRG's renewable advisory group. Photo via NRG.com

NRG Energy, headquartered in Houston, has sold its renewable advisory group to Dallas-based commercial real estate services powerhouse CBRE. Financial terms weren’t disclosed.

The advisory group, led by Miro Sutton, brokers renewable energy deals, such as community- and utility-scale transactions, and advises clients on handling tax credits for renewable energy projects. The team works primarily with Fortune 500 companies.

Sutton joined CBRE as head of renewables and energy after overseeing the NRG advisory group. The group has arranged deals involving more than 5,000 megawatts of clean power.

“CBRE targeted this specific advisory team because of their unique approach to renewable procurement and expansive coverage of renewable offerings. They have enabled hundreds of projects and thousands of [megawatts] through their innovative contract structures that reduce risk and enhance economics for their customers,” Robert Bernard, CBRE’s chief sustainability officer, told Utility Dive.

In a news release, Bernard says market demand for renewable energy continues to grow rapidly as companies seek to meet their net-zero goals and other energy-related commitments.

“However, integrating renewable energy into a company’s real estate can be a complex process,” Bernard adds. “This acquisition enables CBRE to offer a wide range of energy-related sustainability services to all our clients, both occupiers and investors, and help them simplify the complexity associated with planning, sourcing and managing renewable energy.”

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