Verdalia Bioenergy takes off in Spain with a €1 billion renewables investment

Verdalia Bioenergy takes off in Spain with a €1 billion renewables investment

BIOMETHANE PLANT: Goldman Sachs investing in Spain’s renewable energy Photo credit: Biomethane-Planet ET Biogas

GOLDMAN SACHS announced the launch of Verdalia Bioenergy involving an investment of more than €1 billion in Europe’s biomethane sector.

The American multinational investment bank and financial services company will focus on “developing, acquiring, building and operating” biomethane plants across Europe, contributing to the European Union’s decarbonisation agenda.

Verdalia will invest in early-stage development projects and larger operational assets and has already signed its first agreement, subject to regulatory approval.

Once given the go-ahead, Verdalia will purchase a portfolio of biomethane projects in mid-stage development in Spain, with a total capacity of approximately 150 gigawatts per year.

Goldman Sachs is joining forces with Fernando Bergasa and Cristina Avila. The former chiefs of Spanish electricity, oil and gas distribution company Redexis, they have a strong track record in the natural gas sector, Goldman Sachs sources said.

Under their leadership, Verdalia aims to become a leading biomethane operator, starting in Spain and subsequently expanding across Europe, deploying more than €1 billion over the next four years.

“We are excited to work with Goldman Sachs Asset Management and benefit from their investment experience,” Fernando Bergasa, Verdalia’s executive chairman said.

“Renewable gas will be a key tool to assist Europe in its commitment to becoming carbon neutral by 2050.”

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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