TECHNOLOGY FOCUS - BIOTECHNOLOGY - Preferred Method: In the process for producing lipids for biofuel or lubricant, the organic waste(s) or residue(s) or their mixtures are the main source(s) of carbon and/or nutrient(s) in the cultivation medium. The organic waste(s) or residue(s) comprise(s) industrial organic waste(s) or residue(s), agricultural organic waste(s) or residue(s), municipal waste(s) or microbial waste(s) or residue(s), or their mixtures. The cultivation medium comprises as an additional carbon source glycerol, a fraction from sugar or starch industry, sugar or starch syrup(s) or purified sugar(s) or their mixtures. The amount of triacylglycerols in the spent culture medium is at least 1 g/l. preferably at least 5 g/l. The produced lipids comprise mainly triacylglycerols. The produced lipids are trans-esterified to produce biodiesel or hydrogen treated to produce renew-able diesel. The cultivation medium is not sterilized or is pasteurized. The cultivation medium comprises lipase inhibitors. The cultivation is carried out as a batch or as fed-batch fermentation. The Streptomyces species is selected from Streptomyces roseosporus, Streptomyces griseus, Streptomyces albus, Streptomyces peucetius, Streptomyces aureofaciens, Streptomyces lividans, Streptomyces coelicolor, Streptomyces hygroscopicus, Streptomyces avermitilis, Streptomyces milbemycins and Streptomyces lydicus. The Streptomyces host is genetically modified to express at least one gene of the lipid synthesis pathway. The Streptomyces host is genetically modified to express an endogenous or exogenous gene encoding DGAT (EC 2.3.1.20) and/or 3-ketoacyl-acyl carrier protein synthase III (FabH) (EC: 2.3.1.41). The Streptomyces host is genetically modified to express one or more of genes selected from (a) sco0958 (SEQ ID NO: 1) and/or sco5888 (SEQ ID NO: 2); (b) the closest homolog of the genes in a Streptomyces species; (c) a nucleotide sequence which hybridizes to at least one of the genes or the homologs under stringent hybridization conditions; (d) a nucleotide sequence causing the same or an equivalent function as gene products ID 101096381 or ID 101101330 have; and (e) a nucleotide sequence encoding an amino acid sequence showing at least 60 % identity to SEQ ID NO: 3 or SEQ ID NO: 4. The Streptomyces host is made deficient in producing bioactive metabolites, such as antibiotic agents. Sequences not defined here may be found at ftp://ftp.wipo.int/pub/published_pct_sequences/publication. EXAMPLE - No suitable example given.