Federico Pucciariello-run business considers renewable energy move in Republic

A company run by former Munster rugby star Federico Pucciariello is weighing a €360 million investment in a sustainable aviation fuel plant in the Republic.

Known as Freddy to fans, Argentinian-born Pucciariello played 85 games for Munster across four seasons, including the side’s historic Heineken Cup win over Biarritz in Cardiff in 2006. He also earned eight caps for Italy.

He confirmed at the weekend that his business, Essential Energy Holding (EEH), which is working on biodiesel production in Argentina, is considering investing in a sustainable aviation fuel plant in the Republic, potentially at Foynes deep water port in Co Limerick.

Pucciariello, who is chief executive of EEH, said the Argentinian-based group was contemplating the move as demand from European airlines for non-fossil fuel is set to increase.

The development would require an investment of $350 million to $400 million (€312 million to €360 million), he estimated.

“It would employ around 200 people directly and construction would be around 1,000 people,” Pucciariello added.

European Union rules require airlines to blend 2 per cent sustainable fuel with the kerosene used to power commercial aircraft. That will increase to 6 per cent in 2030 and to 20 per cent in 2035.

However, the European Aviation Safety Agency acknowledges that meeting these goals demands “significant expansion of production”.

EEH began as Rosario Bioenergy in 2007. Pucciariello invested in the business when he was still playing rugby.

The group now has operations in South America, Europe and the Middle East. It processes food waste in Argentina and ships the product to Civitavecchia, Italy, where EEH recently bought local operation DB Lubrificanti. Customers include Italian oil producer Eni and Shell.

The company is developing a plant to convert food production waste to biofuel in Santa Fe province in Argentina in partnership with local player YPF.

Last month, the venture, Santa Fe Bio, signed a deal with TotalEnergies that will see the French giant take most of its production of renewable fuels, including aviation fuel.

That facility will produce more than 170,000 tonnes of fuel a year, while the partners have confirmed that it will require investment of $400 million. Production is due to begin in September next year.

According to John O’Connor, EEH’s Irish-based international vice-president, the group is considering Foynes because of its deep water port and planned infrastructure development.

The port company and Irish Rail are building a rail line from Foynes to Limerick, which is close to Shannon Airport, where both Aer Lingus and Ryanair have operations.

“Irish airlines have signed up to commitments on sustainable aviation fuel,” O’Connor added.

He noted that Pucciariello knows Limerick well as a result of his Munster rugby career. “He has a great affinity for the area,” O’Connor added.

EEH already has plant designs and can fund the project, according to O’Connor.

Irish and global airlines have faced rising fuel bills since the US-Israel attack on Iran in February, which closed the Strait of Hormuz, through which about one-fifth of the world’s oil and gas is shipped.

Ryanair chief executive Michael O’Leary recently warned that this would lead to higher air fares.