ENGIE acquires Ixora Energy Ltd
Published by Jessica Casey,
Editor
Energy Global,
ENGIE has announced the acquisition of Ixora Energy Ltd, a leading biomethane producer based in the UK since 2017. The acquisition, secured for £64.8 million, was made from the responsible investment manager, Downing LLP.
This strategic move marks the addition of three new production units to ENGIE’s portfolio, which are located in Devon and Somerset, collectively generating approximately 160 GWh/y of biomethane. It also consolidates its pipeline of projects in this crucial market.
As a leading producer of biomethane in France, with an installed production capacity of 670 GWh as of 30 June 2023, ENGIE continues its expansion in Europe and accelerates its development in the UK, a fast-growing market.
With a target of 10 TWh/y of capacity by 2030 in Europe, this acquisition is a significant step after the release of an increased ambition earlier this year. The Group's sustained investment in biomethane complements its goal of achieving net zero carbon emissions by 2045 and meeting the decarbonization needs of its customers.
Cécile Prévieu, ENGIE Executive Vice President in charge of Networks activities, said: “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. In this way, ENGIE is committed to contributed to the UK's goals for renewable energy and decarbonisation.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2023 issue
The Autumn 2023 issue of Energy Global hosts an array of technical articles focusing on green hydrogen, wind installation technology, blade monitoring solutions, and more. This issue also features a regional report looking at some key renewables projects in Australia.
Read the article online at: https://www.energyglobal.com/bioenergy/25092023/engie-acquires-ixora-energy-ltd/
You might also like
Matrix Renewables secures renewables financing from Santander CIB
Matrix Renewables has received €300 million in corporate debt financing for the construction of its renewable portfolios in multiple different countries.