Engie, Mirova Join Forces for Biogas
French utility Engie and asset manager Mirova have formed a strategic partnership, following Mirova’s acquisition of a 50% stake in Dana Gas, a company operating nine biogas plants owned and developed by Engie. No financial details were disclosed in the April 27 announcement.
The transaction marked the first step of a "broader co-operation" to expand the Dana Gas asset portfolio, according to Mirova. It said the companies believe biogas will be key to building a circular economy, creating local jobs and supporting agriculture and to ensure food resilience and energy security.
Mirova is taking a "significant" position in France’s biogas sector while Engie, including its subsidiary Engie Bioz, is a big biogas operator in France and is active across the value chain, from project development and construction to project operation and energy sale. Engie aims to generate 5 terawatt-hours/yr of biogas by 2030.
Mirova is a long-standing partner of Engie on many wind, solar and hydro projects across Europe and said biogas has the potential to become a key contributor to the energy transition as a truly decentralised source of energy with tangible local benefits.