The SWEN Impact Fund for Transition managed by France-headed investment management firm SWEN Capital Partners SA and TerraX Srl, an Italian developer of renewable gas projects, have recently announced the creation of a joint entity to invest over EUR 100 million in Italy in the biomethane (aka renewable natural gas – RNG) sector.
SWEN Impact Fund for Transition is the first European impact fund entirely dedicated to the financing of renewable gas infrastructure. TerraX is led by the well-known biogas expert and pioneer, Michael Niederbacher, who has designed and built more than 220 units in 12 countries around the world.
We are delighted to launch this investment platform which will accelerate TerraX development in Italy, said Michael Niederbacher, CEO and founder of TerraX, and VP of the European Biogas Association (EBA).
Build and operate
The joint venture will build and operate more than 10 biomethane projects to produce renewable gas on Italian soil, which will be injected into the gas grid or marketed as bioLNG. The objective is to drastically reduce greenhouse gas (GHG) emissions from the transport sector, while at the same time recovering waste from the farmers and reducing the use of chemical fertilizers.
Once operational in 2022, the plants will produce enough energy to supply 1 000 heavy-duty vehicles (HDVs)trucks and reduce emissions by 90 percent.
We are very enthusiastic to support the Italian biomethane market in its growth. TerraX’s experience and skills in the biogas and biomethane sector are simply unique in Italy and combined with our own experience in financing and marketing biomethane, constitute pillars for successful and profitable growth, said Olivier Aubert Fund Manger, SWEN Capital Partners.
Aware of these challenges, SWEN Capital Partners, as a responsible ecosystem activator, aims to accelerate the financing of energy transformation at the heart of the territories in Europe.
The Italian market has been well known by our company for the last few years and allows us to see the growing interest in responsible investing that combines profitability and impact objectives in favor of the energy transition, concluded Jérôme Delmas, CEO of SWEN Capital Partners.
