ENGIE to invest €2 billion into biogas by 2030
In a press release, global energy and services group ENGIE announced that it is beginning the process of mobilising €800 million to develop biogases over the next five years, with estimations of a total of €2 billion to be invested by 2030.
The objective of the investment is to support the sector’s goals to reduce costs by roughly 30 to 40% by 2030 and achieve cost parity with natural gas.
“Gas, which will gradually become green, will play a key role in the decarbonation of our country, along with other sources of clean energy generation. Produced on the territory, green gas is easily storable and non-intermittent,” said Isabelle Kocher, ENGIE’s CEO, at the inauguration of the Beauce Gâtinais Biogas (BGB) methanisation unit in France.
“As such, it has unique properties that make it the natural partner of electrical renewable energy sources. It will be an important vector of our country’s energy transition."