Repsol has entered the biomethane market with an agreement to take a 40% stake in Genia Bioenergy.
This alliance allows the multi-energy company to add important human and technical capabilities to position itself in this sector, according to the company.
The agreement between Repsol and Genia Bioenergy includes 19 of its biomethane plants, which are in development phase.
In addition, there are a further 11 plant projects in an early phase of development.
Repsol will buy all the gas produced by these projects, which will also form a unique platform to create agro-industrial ecosystems capable of boosting local economies and offering solutions for the recovery of their waste.
Genia Bioenergy is the only Spanish company that integrates the entire biogas and biomethane value chain, including the development of technologies and solutions and the engineering, construction and technical biological operation of the projects.
The organisation applies technologies and innovation to create new recovery models that allow the integration of all the actors in the production and waste management chain to obtain renewable gases and resources in the long term.
For Repsol's general manager of industrial transformation and circular economy, Juan Abascal: "This agreement is an important step forward in our strategy to take advantage of material that would otherwise be waste and transform it into fuels for the home, industry and mobility. Genia Bioenergy's experience, talent and assets will allow us to position ourselves as an integrated player in the entire biomethane value chain."
According to Gabriel Butler, CEO of Genia Bioenergy: "The development of biomethane plants advances Spain in the goal of decarbonising the economy, reduces its dependence on foreign energy and provides a sustainable response to European guidelines on waste management. It also means the creation of qualified jobs and the promotion of economic ecosystems around waste, especially in rural areas".
Repsol acquires 40% stake in Genia Bioenergy
