European biomethane fund closes >€2m over target

Spanish insurer Mapfre and renewable energy company Abante have closed their biomethane fund, which is called Mapfre Energias Renovables II.
The investment target was €100 million, and this was surpassed with €102.6 million.
€20 million was raised by a contribution from the state-owned ICO bank, through European Next Generation.
Another €20 million was invested by Mapfre, and the rest was distributed by 146 institutional and private investors.
Abante has contributed 1% of the total raised.
The fund is now seeking financing to increase the amount raised from investors to €250 million.