A method for combined generation of electric power and biofuel is disclosed, wherein the method comprises: a) Producing electric power in an oxyfuel power plant by combustion of a fuel with oxygen, thereby obtaining CO2, b) Obtaining the oxygen from algae cultivation, c) Feeding the obtained CO2 to the algae cultivation, d) Harvesting algae and obtaining algae oil and algae mass, e) Fermenting the algae mass to ethanol and remaning algae mass f) Refining the algae oil and the ethanol to biofuel, g) Processing the remaining algae mass to fish fodder h) Farming fish feeding the fish the fish fodder, i) Recovering sediments from the fish farm j) Recovering nutrient salts from the sediments and k) Adding the nutrient salts to the algae cultivation. A corresponding system/apparatus is also claimed.
