Biomethane plants in UK. Source: Wyke Farms/CNG Services (www.cngservices.co.uk).
French utility Engie SA (EPA:ENGI) has acquired the bio methane producing arm of renewable energy specialist Vol-V SAS.
Set up ten years ago, Vol-V Biomasse develops, builds and operates bio methane producing power plants. It currently has seven units in operation and is building another three.
The acquisition will make Engie France's top bio methane producer with a portfolio of nearly 80 projects.
The utility has pledged to invest EUR 800 million (USD 911m) in the next five years and EUR 2 billion by 2030 in bio methane projects with farmers, as part of a strategy goal to "achieve cost parity with natural gas".
Engie is also chasing a biomethane output target of 5 terawatt-hours per year by 2030.