Ixora “right at the centre” of ENGIE’s UK biomethane growth
In September this year, it was announced that ENGIE had acquired Ixora Energy Ltd, a leading biomethane producer based in the UK since 2017.
The acquisition, secured for £64.8 million (€74.6 million), was made from the responsible investment manager, Downing LLP.
This strategic move marks the addition of three new production units to ENGIE’s portfolio, which are located in Devon and Somerset, collectively generating around 160 GWh of biomethane annually.
It also consolidates its pipeline of projects in this crucial market, according to ENGIE.
ENGIE is a prominent biomethane producer in France, with an installed production capacity at 670 GWh as of 30 June.
This acquisition sees it continue to expand in Europe, and accelerates its development in the UK.
With a target of 10 TWh per year of capacity by 2030 in Europe, this acquisition is a significant step after the release of an increased ambition earlier this year, said ENGIE.