- ENGIE acquires Ixora Energy Ltd for £64.8 million.
- The acquisition includes three production units in Devon and Somerset generating 160 GWh of biomethane annually.
- ENGIE aims for 10 TWh biomethane capacity in Europe by 2030.
- ENGIE targets net zero carbon emissions by 2045.
Acquisition Details
ENGIE has acquired Ixora Energy Ltd, a UK-based biomethane producer, for £64.8 million from Downing LLP. This acquisition includes three production units located in Devon and Somerset.
Production Capacity
The newly acquired units collectively generate approximately 160 GWh of biomethane annually. This addition strengthens ENGIE's existing portfolio and consolidates its project pipeline in the UK market.
Strategic Goals
ENGIE, already a leading biomethane producer in France with a production capacity of 670 GWh as of June 2023, aims to expand its footprint in Europe. The company targets a biomethane production capacity of 10 TWh per year by 2030.
Decarbonization Efforts
This acquisition aligns with ENGIE's broader goal of achieving net zero carbon emissions by 2045. The investment supports the decarbonization needs of its customers and contributes to the UK's renewable energy and decarbonization targets.
