- EIB grants €80 million for biomethane plant development in Spain.
- Nortegas aims to generate 3.5 TWh/year by 2030.
- Investments focus on renewable biomethane from agricultural waste.
- Project supports REPowerEU and InvestEU initiatives.
Investment Overview
The European Investment Bank (EIB) has approved a framework financing of up to €80 million to support the construction of biomethane plants in Spain. This funding is part of the InvestEU program, which aims to mobilize over €372 billion by 2027. The project aligns with the REPowerEU plan, focusing on enhancing energy security and accelerating the green transition in the European Union.
Project Goals
The financing will enable the first phase of a strategic plan to produce up to 3.5 TWh of renewable energy annually by 2030. The initiative involves developing biomethane from agricultural waste, primarily livestock manure, and organic by-products. This renewable gas will be injected into the existing natural gas network, replacing fossil fuel-derived natural gas and utilizing current infrastructure.
Environmental Impact
The project aims to reduce greenhouse gas emissions from agricultural activities and lower the risk of emissions associated with livestock production. By producing biomethane, the initiative contributes to the diversification and security of the EU's energy supply, reducing dependence on fossil fuels like natural gas. The Spanish government's guarantee of origin system will certify the sustainability of the biomethane source and related emission savings.
Regional Development
Most of the investment will target cohesion regions in Spain, where per capita income is below the EU average and there is a risk of depopulation. This focus underscores the EIB's commitment to economic, social, and territorial cohesion, supporting local economies while advancing renewable energy goals.
