PLC to enter Italian RNG market by taking a majority stake in Schmack Biogas
Italy-headed renewable power plant service provider PLC S.p.A. has announced that it plans to enter to the biomethane market through the majority acquisition of compatriot anaerobic digestion (AD) and biogas upgrading technology supplier Schmack Biogas S.r.l. The transaction is fully in line with the growth plan of the PLC, which aims to become a reference in the international independent service providers (ISP) sector with multi-technology expertise in renewable and decarbonised energy sources.
According to a statement, a binding offer for the acquisition of 51 percent was accepted on August 28, 2019, by Schmack Biogas S.r.l, an independent provider of anaerobic digestion (AD) and biogas upgrading technologies from Germany-based Schmack Biogas GmbH, a Viessmann Group company.
The transaction is subject to closing terms and conditions to be completed on or before September 30, 2019.
Already active in the wind, photovoltaic (PV) and hydropower sectors, as well as in high and extra-high voltage and industrial electrical infrastructures, PLC now enters the biogas and biomethane market in Italy and Europe.
The company notes that due to recent Italian and European regulations, renewable natural gas (RNG) and other advanced biofuels are becoming of “central importance” to transport decarbonization policies. As a result, PLC foresees significant growth in the sector.