Goldman’s Verdalia Raises €671 Million to Fund Biomethane Plants
(Bloomberg) -- Verdalia Bioenergy, a biomethane firm backed by Goldman Sachs Group Inc., has raised €671 million ($785 million) of debt from a large banking consortium to fund projects across Spain and Italy.
The corporate financing will help the company increase its aggregate production capacity to more than 3 terawatt hours per year, equivalent to the yearly consumption of almost 1 million households, according to a statement reviewed by Bloomberg News.
The new financing, covering biomethane plants construction as well as acquisitions, was provided by a group of banks: ING Groep NV, Societe Generale SA, UniCredit SpA, BBVA SA, Sumitomo Mitsui Banking Corp., Banco Santander SA and Banco de Sabadell SA. Investors La Caisse and Rivage also participated.
Biomethane, a renewable gas that can be made from food and animal waste or other organic matter, is supported by European government incentives to achieve carbon neutrality by 2050, spurring investment by companies such as Shell Plc and TotalEnergies SE.
Verdalia has seven plants in operation and six under construction in Italy, which are expected to start injecting biomethane into the grid in early 2026. In Spain, Verdalia is currently building its first plant and will start constructing two additional facilities by the end of this year.
Rothschild & Co. acted as financial adviser for the transaction.
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