Low Carbon, Agrivert form JV to develop biogas, biomethane projects in Europe
SUMMARY
The joint venture plans to use manure, food waste, and agricultural residues as the primary feedstock for its portfolio.
By Shardul SharmaRenewable energy companies, Low Carbon and Agrivert, on March 27 announced the formation of a joint venture called Beacon to develop, build and operate biogas and biomethane projects across Europe.
Low Carbon, an independent power producer, has developed over 2 GW of renewable energy capacity to date and has another 15 GW of projects in various stages of development. Agrivert specialises in designing, building, and operating anaerobic digestion facilities.
The joint venture plans to use manure, food waste, and agricultural residues as the primary feedstock for its portfolio. The biogas generated will be refined into biomethane, which can be used as gas or converted into electricity. Beacon's goal is to deliver biomethane and biogas plants across Europe by 2030, the companies said.
The European Union recognises biomethane as a crucial technology for providing low-carbon renewable energy, aligning with its 2050 decarbonisation targets. Furthermore, biomethane is included in the EU Taxonomy and Renewable Energy Directive (RED), emphasising its importance in the EU's sustainable energy transition strategy.
The EU's REPowerEU plan aims to increase biomethane production to 35bn m3/year by 2030, an initiative that requires an estimated investment of €37bn ($40bn).
