Marguerite II, a European infrastructure fund, has acquired a majority stake in Keon to grow its biogas portfolio.
As part of the transaction, Marguerite II will fund Keon’s investment plan to grow its portfolio in biomethane projects in France and abroad as well as supporting its strategy to become a major integrated renewable gas producer.
The Keon group comprises three entities: Naskeo Environnement (specialised in the design and construction of biogas production plants; Sycomore (specialised in operation and maintenance), and Ter’Green, its development and investment arm.
Founded in 2005, Naskeo Environnement has built more than 60 biogas projects to date and is a major contractor of agricultural and territorial projects on the French biomethane market.
“Electricity represents less than 30% of the final energy consumption in France,” said Guillaume Rivron, partner at Marguerite. “Green gas will, therefore, have to play a role in the decarbonisation of the economy, complementing renewables’ uptake.
“We are pleased to partner with Keon’s founders and management, pioneers of biogas in France, to support them in the next stage of the company’s transformation into an integrated renewable gas producer.”
Keon’s CEO, Aurélien Lugardon, said the company is looking forward to starting this new journey with Marguerite.
“As a European fund manager with strong greenfield infrastructure DNA they are an ideal partner to support our growth towards becoming a leading IPP in France and Europe,” he said.
Keon’s founders and management will remain shareholders in the company alongside Marguerite.