Repsol ventures into biomethane market with stake in Genia Bioenergy
SUMMARY
Valencia-based Genia Bioenergy specialises in integrating the entire biogas and biomethane value chain.
By Shardul SharmaRepsol, a leading energy company based in Spain, on April 10 announced its foray into the biomethane market through a strategic agreement to acquire a 40% stake in Valencia-headquartered biogas and biomethane company Genia Bioenergy.
The agreement between Repsol and Genia Bioenergy includes 19 biomethane plants currently under development, along with 11 additional projects in the early stages. Repsol will procure all gas produced by these projects, forming a platform for the creation of agro-industrial ecosystems that stimulate local economies and offer waste valorisation solutions.
Genia Bioenergy specialises in integrating the entire biogas and biomethane value chain, from technology development to project engineering, construction, and operational management.
Biomethane, derived from organic matter such as agricultural and livestock waste, serves as a renewable alternative to natural gas. In addition to substituting conventional gas, biomethane has diverse industrial applications, including renewable fuel production, green hydrogen generation, and chemical manufacturing, thereby reducing greenhouse gas emissions.
"This agreement is an important step forward in our strategy to take advantage of material that would otherwise be waste and transform it into fuels for the home, industry and mobility. Genia Bioenergy's experience, talent and assets will allow us to position ourselves as an integrated player in the entire biomethane value chain," Repsol's executive managing director of industrial transformation and circular economy, Juan Abascal, said.
The alliance with Genia Bioenergy is part of Repsol's 2024-2027 strategy, which includes the transformation of its industrial complexes into multi-energy hubs capable of manufacturing products with a low carbon footprint.
