Repsol (a Spanish oil company), a Spanish multi-energy company committed to sustainable development has entered the biomethane market with an agreement to acquire a 40% stake in Genia Bioenergy, the only Spanish company to integrate the entire biogas and biomethane value chain. This alliance enables Repsol to add important human and technological capabilities that will put it at the forefront of this growth area.
The EU considers biomethane to be of strategic importance for the EU Renaissance Program in the following areas. The Spanish Gas Association estimates that biomethane gas could account for nearly half of Spain's natural gas consumption.
The agreement between Repsol and Genia Bioenergy includes 19 biomethane plants that it is developing. In addition, 11 other projects are in the early stages of development. Repsol will purchase all the natural gas produced by these projects, which will also form a unique platform for creating agro-industrial ecosystems that can boost local economies and provide solutions for the stabilization of their waste.
Genia Bioenergy offers a comprehensive approach to biogas and biomethane production.
Their expertise covers the entire value chain, from technology development and solutions to engineering, construction and ongoing biological operation of biogas projects. Through innovation and value model creation, they promote cooperation among all stakeholders within the production chain and the waste management sector.
The emerging biomethane industry in Spain and Portugal is helping to solve the problems that organic waste currently poses for administrations, as it utilizes waste that would be emitted to the atmosphere when degraded in landfills. It is also an opportunity to create economic activity in rural areas.
For Juan Abascal, Repsol's Executive Managing Director of Industrial Transformation and Circular Economy, “This agreement is an important step in our strategy to utilize materials that would otherwise go to waste and convert them into fuels for homes, industry and mobility. Genia Bioenergy's experience, talent and assets will enable us to position ourselves as an integrated player in the entire biomethane value chain.”
According to Gabriel Butler, CEO of Genia Bioenergy:- “The development of biomethane plants advances the goal of decarbonizing the Spanish economy, reduces energy dependence on foreign countries and provides a sustainable response to European waste management guidelines. It also means the creation of qualified jobs and the promotion of economic ecosystems around waste, especially in rural environments.”
