In Italy, SWEN Impact Fund for Transition 2 (SWIFT 2), managed by France-headed investment management firm SWEN Capital Partners SA, and BiogaServizi Srl, an Italian operator of biogas plants, have announced the joint establishment of Ringas Srl and the acquisition of six biogas plants to be converted to biomethane production.
Ringas combines the technical and financial expertise of its partners to become a new point of reference in the Italian energy transition through the production of biomethane, aka renewable natural gas (RNG) from by-products of plant and animal origin.
Switching from biogas power to biomethane
Of the six plants acquired, five are located in the Province of Cremona and one in the Province of Alessandria, with a combined electricity production capacity of approximately 5.625 MW.
The plants will be converted to RNG production
During the due diligence phase, Ringas availed itself, for the legal aspects, of the legal assistance of DLA Piper and Gitti & Partners for the acquisition of the plants in the Cremona and Alessandria areas, respectively.
For the technical aspects, Ringas availed itself of the support of RINA and BIT for the acquisition of the plants in the Cremona and Alessandria areas, respectively.
Ringas’ partners
Complementary partnership
Managed by SWEN Capital Partners, SWEN Impact Fund for Transition 2 (SWIFT 2) is the largest European impact fund dedicated to investments in renewable gas infrastructure.
SWIFT 2 will provide Ringas with the necessary capital for the construction of at least 10 biomethane plants.
We are delighted with Ringas’ set up in Italy alongside BiogaServizi. The acquisition of six biogas plants in the Province of Cremona marks the start of an ambitious cooperation to develop a portfolio of biomethane plants. We have found in BiogaServizi a complementary partner, who will bring Ringas its technical expertise in biomethane projects, both in development and operation, as well as its knowledge of the Italian biomethane industry, said Olivier Aubert, Managing Director of the SWIFT strategy at SWEN Capital Partners.
BiogaServizi is a leading Italian operator of biogas plants, offering management services to approximately 20 biogas plants in Italy, six of which have full-service contracts.
BiogaServizi makes its skills available to Ringas in operational management, in obtaining the necessary authorizations, and in planning and controlling the construction of the plants.
The creation of Ringas comes from afar: we have been operating in the sector for ten years now, and never before have we seen the potential of the biomethane market. We chose to partner with SWEN Capital Partners because it demonstrates a deep understanding of the Italian market as well as passion and commitment for the development of biomethane in Italy and Europe, commented Massimo Vecchiet, Legal Representative for BiogaServizi.
