European fund Marguerite takes control of French biogas group Keon

Biogas plant. Source: EBRD ( All rights reserved.

January 21 (Renewables Now) - Pan-European infrastructure fund Marguerite II has taken over a majority stake in French industrial group Keon SA from a pool of funds managed by Generis Capital Partners, Citizen Capital, Supernova Invest and Sigma Gestion, so as to boost its development as a renewable gas producer in France and beyond.

Keon’s founders and management will retain a shareholding in the acquired business alongside Marguerite. The financial details of the transaction were not disclosed in the statement issued on Thursday.

Keon operates under three entities -- biogas plant developer Naskeo Environnement, operation and maintenance division Sycomore as well as development and investment arm Ter’Green. Naskeo has built over 60 biogas facilities since its inception in 2005 and is one of the main contractors in the French biomethane market. Ter’Green, for its part, was set up in 2019 and owns four operating plants, two in construction and seven under development.

Under the deal, Marguerite II will support Keon’s investment plan in order to expand its portfolio of biomethane projects in France and overseas.

"Electricity represents less than 30% of the final energy consumption in France. Green gas will therefore have to play a role in the decarbonisation of the economy, complementing renewables’ uptake," Marguerite partner Guillaume Rivron said.

The deal, Marguerite's first sustainable infrastructure purchase in 2022, aligns with the fund's strategy of backing developer-led renewable energy platforms. It follows Marguerite's investments in Spanish district heating developer Rebi, Swedish green data centre operator Conapto and French solar-plus-storage company ZE Energy in 2021.

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