The European Investment Bank (EIB) has granted Nortegas Group a framework financing of up to €80 million to enable group subsidiary Nortegas Renovables to finance the construction of biomethane plants in Spain and launch a digital operations centre.
The EIB and InvestEU-financed project will enable the development of the first phase of Nortegas Renovables' strategic plan, which aims to generate up to 3.5 TWh/year by 2030.
Meanwhile, the launch of the digital operations centre will provide innovative waste management solutions by applying innovative technology and digitalising the group’s plants.
The primarily medium-sized investments set to receive financing will produce renewable biomethane to be injected into the existing natural gas network, replacing fossil fuel-derived natural gas and taking advantage of existing distribution infrastructure.
The plants will use agricultural waste – mainly livestock manure from surrounding farms – and, to a lesser extent, organic by-products from agribusiness and vegetable waste.
The Spanish government’s guarantee of origin system will certify the sustainability of the source of the biomethane provided and the related greenhouse gas emission savings.
The production of biomethane from the project will help reduce direct greenhouse gas emissions from agricultural activity, lower the risk of direct emissions’ release into air and water associated with livestock production and contribute to the security and diversification of energy supply in the EU, reducing the EU's dependence on fossil fuels such as natural gas.
EIB group president Nadia Calviño said: “The EIB is backing innovation and the development of new green fuels, which are key to the energy transition, decarbonisation and European industrial competitiveness. This investment consolidates Spain's position as the country of renewables.”
European Commissioner for the Economy Paolo Gentiloni said: “The InvestEU programme supports investments that strengthen energy security and reduce greenhouse gas emissions, driving forward the green transition across Europe.
"This agreement exemplifies these goals, representing a transformative step in Spain's renewable energy landscape by multiplying the country’s current biomethane production capacity.
"Thanks to this agreement, we are not only advancing energy security and supply diversification but also reinforcing our commitment to sustainability and the circular economy. Initiatives like these bring us closer to a cleaner, more resilient energy future while creating jobs and bolstering economic growth for all EU citizens."
Nortegas Group receives €80m EU grant for biomethane plants
