French utility Engie SA (EPA:ENGI) on Thursday said it has acquired UK biomethane producer Ixora Energy Ltd from investment manager Downing LLP for GBP 64.8 million (USD 79.5m/EUR 74.7m).
The acquisition adds three production sites to Engie’s portfolio and consolidates its pipeline of projects in the market. The three anaerobic digestion (AD) facilities are located in Devon and Somerset and together generate around 160 GWh of biomethane a year. The biogas is processed to generate renewable gas and electricity for local networks. It is derived from agricultural feedstocks such as farm waste, food production byproducts and sustainably grown crops, Ixora explains.
With an installed biomethane production capacity of 670 GWh in France as of end-June, Engie aims to reach a capacity of 10 TWh per year in Europe by 2030.
“This acquisition resonates deeply with our commitment to a diversified energy mix where biomethane stands as a pivotal force in Europe’s decarbonisation and energy sovereignty, while ensuring a resilient and affordable energy transition,” commented Cecile Previeu, Engie executive vice president in charge of Networks activities.
(GBP 1 = USD 1.226/EUR 1.153)
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