The French group Engie has just finalized the acquisition of Ixora Energy, one of the main biogas producers in Great Britain. The group will invest 3 billion euros by 2030 to establish itself in eight countries.
Engie wants to accelerate its biogas production and is targeting several European countries to achieve this. Thursday September 21, the French group announced the acquisition of Ixora Energy, one of the main players in British biogas for 74.6 million euros. The operation allows it to take control of three sites whose overall biomethane production is 160 GWh per year.
The biogas market is on the rise in the Old Continent as Brussels seeks alternatives to Russian gas. In the short and medium term, imports of liquefied natural gas (LNG) are enabling the European Union to escape its dependence on Russia. Thus, Russian gas represented less than 15% of total imports in the first half of 2023, compared to 45% in the same period in 2021. Despite this, Brussels is thinking in the longer term. “Biomethane is now a European issue with the effects of the war in Ukraine,” summarizes Camille Bonenfant, Managing Director of Engie Gaz Renewables Europe, Engie’s new subsidiary for European biogas.
This article is originally published on usinenouvelle.com