The European Investment Bank (EIB) has granted a significant framework financing package of up to €80 million to the Nortegas Group, aimed at advancing the construction of biomethane plants across Spain. The funding will also support establishing an advanced digital operations centre for Nortegas Renovables, the group’s subsidiary.
This funding will support Nortegas Renovables’ plan to generate 3.5 TWh of renewable biomethane annually by 2030.
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Biomethane Production from Agricultural Waste
The financed biomethane plants will primarily use agricultural waste, such as livestock manure, as feedstock. In addition, organic by-products from agribusiness and vegetable waste will also be utilized. Biomethane will replace fossil fuels in the natural gas network, aiding decarbonisation and supporting the transition of the energy system.
Nadia Calviño, EIB Group President said, “The EIB is backing innovation and the development of new green fuels, which are key to the energy transition, decarbonisation and European industrial competitiveness. This investment consolidates Spain’s position as the country of renewables”.
The Spanish government’s guarantee of origin system will validate the sustainability of the biomethane and its associated greenhouse gas reductions. This will help lower agricultural emissions, diversify the EU’s energy sources, and reduce dependence on fossil fuels like natural gas.
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Economic and Social Impact
The EIB’s financing highlights its commitment to economic, social, and territorial cohesion, with funds primarily directed to cohesion regions. These regions, with lower-than-average income, will benefit from increased investment, job creation, and enhanced energy security.
This €80 million funding forms part of the EIB’s REPowerEU initiative, enhancing Europe’s energy security and advancing the green transition. Backed by InvestEU, a European Union program focused on mobilizing over €372 billion in investments from 2021 to 2027.