
SOURCE: U.S. Department of Energy
July 23, 2024
BY U.S. Department of Energy
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Drax Group plc released a first quarter trading update on April 30, reporting that the company’s pellet production business is performing well, with a continued focus on cost reduction in its U.S. operations.
Neste Corp.’s renewable products segment experienced a significant increase in earnings during the first quarter of 2026 despite lower production volumes. The increase is attributed to stronger term sales premiums and surging fossil fuel prices.
Valero Energy Corp. on April 30 released first quarter financial results, reporting a profitable three-month period for both its ethanol segment and Diamond Green Diesel joint venture, which produces renewable diesel and SAF.
Kentucky Gov. Andy Beshear on April 27 signed legislation that creates a tiered tax credit for SAF that allows taxpayers to claim up to $3 per gallon in incentives. The credit is slated to be in effect from Jan. 1, 2029, through the end of 2034.
Rep. Mike Carey, R-Iowa, has introduced the Strengthening Economic and Energy Development Act, a bill that aims to reinstate the $1 per gallon 40A biodiesel tax credit through 2029. Taxpayers could claim either the 40A credit or the 45Z credit.