Infravia Capital Partners has incorporated Heygaz Biomethane (Heygaz), a Pan-European renewable natural gas platform, to address the European renewable natural gas market opportunity and to leverage on the increasing needs of a broad range of industries and transportation customers for carbon-neutral gas as a decarbonisation tool.
Heygaz has been set up through the carve-out of two biomethane production plants and a strong development pipeline from Molgas, an InfraVia portfolio company specialising in small scale liquified natural gas (LNG), and the subsequent merger with biomethane developer Efedos, a Spanish developer led by one of the long-term partners of InfraVia, Fernando Sarasola.
Heygaz intends to build and consolidate a European network of biomethane production plants across a selected number of high growth potential markets through both greenfield and brownfield development opportunities.
The recent completion by Heygaz of an agreement to acquire and develop Biovind AS in Norway, a greenfield project representing up to 80 GWh biomethane production, forms together with production assets carved out from Molgas, Renevo and Etne, a biomethane production cluster on the Norwegian west coast.
In parallel, Efedos brings to Heygaz one of the most advanced greenfield pipelines in Spain and Portugal with c. 25 projects across the peninsula and the first final investment decisions (FIDs) expected in 2024 representing more than 1TWh/year of annual production potential.
In addition to its greenfield pipeline, Heygaz will pursue a strategy to consolidate biogas plants across the continent and convert them into biomethane plants.
In the past months, Heygaz successfully completed the acquisition of 3 biogas plants in Greece representing a total of 150 GWh biomethane production potential (Vipel in the Pella area, two biogas plants in Thessaloniki).
Heygaz is currently actively looking at other brownfield opportunities in the Netherlands, Italy and north of Europe.
Fernando Sarasola, executive chairman of Heygaz stated: “We are extremely excited with the growth prospects ahead of us and our ambition to consolidate Heygaz as the reference biomethane platform in Europe with the support of InfraVia.
"Heygaz is the successful merger of strong operational European assets of Molgas and greenfield platforms, and is already positioned as one of the clear references in the sector.”
Athanasios Zoulovits, partner at InfraVia, stated: “Circular economy is one of our strong convictions sectors at InfraVia. Heygaz is well set up to play a leadership role in the European biomethane sector, with strong growth prospects driven by the EU’s ambition to increase European production of biomethane by 2030 as an alternative and sustainable fuel.
"This is key to meet the decarbonization agenda of multiple end users. We are excited to continue the partnership with Fernando on an additional venture and are excited to work with Francisco and the Heygaz team on the ambitious path we set ourselves to achieve.”
InfraVia announces incorporation of Heygaz Biomethane
