Engie and asset manager Mirova have formed a strategic partnership, following Mirova’s acquisition of a 50% stake in Dana Gas, a company operating 9 biogas plants owned and developed by Engie.
The transaction marked the first step of a "broader cooperation" to expand the Dana Gas asset portfolio, according to Mirova. In a statement, the company said that in an "unprecedented global sanitary crisis context", the companies are questioning the way supply chains work and believe biogas will be key to building a circular economy, creating local jobs and supporting agriculture and to ensure food resilience and energy security.
Mirova is investing through Mirova-Eurofideme 4, its €860 million fund dedicated to energy transition infrastructure projects, and is taking a significant position in France’s biogas sector. Engie, including its subsidiary Engie Bioz, is a leading biogas operator in France and is active across the value chain, from project development and construction to project operation and energy sale.
“This major partnership in the biogas sector in France reflects our conviction that biogas will play an important role in advancing the energy transition,” said Rosaline Corinthien, head of Engie France Renouvelables. “It will serve Engie’s goal to product 5 terawatt-hours of biogas per annum by 2030.”
Raphaël Lance, head of energy transition funds at Mirova, added: “We are pleased with this new cooperation with Engie, a long-standing partner of Mirova whom we have worked with on many wind, solar and hydro projects across Europe.
“We believe in the potential of biogas to become a key contributor to the energy transition as a truly decentralised source of energy with tangible local benefits.”