Parkland scraps plans for B.C.’s largest renewable diesel complex

Parkland Corporation announced it has cancelled its plans for a stand-alone renewable diesel complex at its Burnaby Refinery in B.C.

The complex would have been B.C.’s largest renewable diesel facility.

The company said in its 2022 year-end report that several factors have impacted the competitiveness of the project, including rising costs, a lack of market certainty around emerging renewable fuels, and the U.S. Inflation Reduction Act favouring U.S. producers.

“Having accelerated acquisitions, we are focused on integration, capturing synergies, deleveraging and enhancing shareholder returns,” said Bob Espey, Parkland president and CEO. “While we are not proceeding with the planned renewable diesel complex at our Burnaby Refinery, we will continue to expand our co-processing volumes. We are grateful for the support our renewable diesel project has had from all levels of government, particularly the Province of B.C.”

Parkland said it will continue to extend its low carbon fuel innovation and leadership by expanding co-processing at the Burnaby Refinery to 5,500 barrels per day.