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Evergaz, Meridiam raise €51m for French biogas projects

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Evergaz and Meridiam have raised €51 million to invest in biogas facilities in France.

The funding will go towards the construction of new projects and the optimisation of the operational performance of their nine power stations in France. This innovative funding in the anaerobic digestion (AD) sector will benefit the French platform of projects jointly held by Evergaz and Meridiam.

“Evergaz is delighted with this historic funding in the portfolio of biogas facilities,” said Alain Planchot, CEO of Evergaz, and Frédéric Flipo, managing director of Evergaz.

“This new capacity will allow us to optimise the performance of our sites and continue our development, with the firm belief that biogas should be viewed as one of the key components of ecological transition.

“As a solution combining waste treatment with renewable gas or electricity generation, our sector provides local public and private stakeholders with environmental as well as economic services.”

Thierry Déau, CEO of Meridiam, commented: “This financing transaction is a perfect example of how Meridiam can work hand-in-hand with an industrial player to develop projects in the heart of the territories with our farming partners.

“AD is a solution for the future, consistent with energy transition and circular economy issues. With this new investment, we reaffirm that we consider AD to be a sustainable waste management and carbon footprint reduction solution.”

With 15 biogas facilities in France, Germany, and Belgium, and a 30 MWe capacity, Evergaz has a daily output equivalent to the energy consumption of 130,000 people, preventing 70,000 tonnes of CO2 emissions annually.

Evergaz and Meridiam are aiming to double production by 2025, with an annual biomethane production objective of 125 million normal cubic metres, an installed capacity of 63 MWe and the treatment of more than one million tonnes of waste per year, which is equivalent to supplying 280,000 people with green energy.