TLT advises Eiffel Investment Group and BTS on financing for biomethane plants in Italy

This landmark financing represents a significant private-sector contribution to Italy’s biomethane programme under the PNIEC and PNRR frameworks. It supports the country’s ambition to produce 5.7 billion m³/y of biomethane by 2030, reinforcing Italy’s position as a European leader in renewable gas.

The financing marks a pivotal step for Italy’s clean-energy transition, enabling the construction and conversion of 10 biomethane plants across multiple regions. These assets will valorise agricultural waste and residues into renewable gas, supporting local farmers and SMEs while advancing Italy’s circular economy and energy independence.

TLT advised Green One on the negotiation of the English law finance documents and managed all aspects of the project finance transaction, including co-ordination with Studio Legale Volpe Italian counsel acting for Green One to achieve a successful financial close. The transaction was led by Victoria Quek, Partner in TLT’s Project Finance team, with support from Winnie Ma, a Senior Associate in TLT’s Banking Department.

“Biogas is a cornerstone of Europe’s energy transition. We are convinced of its unique potential to decarbonise industry, strengthen regional energy sovereignty, and create value from local agricultural resources – while shielding Europe against commodity volatility sparked by geopolitical instability. The outstanding collaboration between Green One and the TLT team led by Victoria was instrumental in completing this transaction on time, fully aligned with the GSE timeframe,” said Marc-Etienne Mercadier, Fund Manager of Eiffel Gaz Vert.

“This transaction reflects the broader patterns emerging in project financing in the future energy sector in 1H25. The momentum behind biomethane and other renewable technologies is unmistakable. As funders and developers increasingly seek bankable, future-proofed structures, our role is to demystify the complexities of project financing and find solutions to support the acceleration of the energy transition. This was a complex cross-border project, requiring TLT to work closely with Green One, Eiffel and Deutsche Bank to ensure a successful completion for all. It was a pleasure to support Green One on this transaction,” added Victoria Quek, Partner at TLT.

“The success of this transaction, which marks a decisive step toward a greener Italy, is the result of the professionalism and synergy of all the partners involved from the very beginning. Alongside technical and industrial expertise, legal support has also proven essential in addressing and overcoming the challenges of such an ambitious project, enabling us to make a significant contribution to the country’s decarbonisation and energy transition goals,” concluded Franco Lusuriello, CEO of BTS Group.

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