- The joint venture will invest over 100M€ in more than 10 biomethane projects in Italy.
- The plants will be operational in 2022, supplying energy to 1000 heavy trucks and reducing emissions by 90%.
- SWIFT 2 fund raised €580M, more than three times the final close of SWIFT 1.
- SWIFT 2 dedicates 60% of its investments to biomethane and 30% to green hydrogen.
Investment in Biomethane Projects
TerraX srl and SWEN Capital Partners have formed a joint entity to invest over 100M€ in the biomethane sector in Italy. The joint venture aims to build and operate more than 10 biomethane projects, producing renewable gas to be injected into networks or marketed as bioLNG. These projects are expected to be operational in 2022, supplying energy to 1000 heavy trucks and reducing emissions by 90%.
SWIFT 2 Fund
SWEN Capital Partners' SWIFT 2 fund has raised €580 million, more than three times the final close of its predecessor, SWIFT 1. The fund focuses on investments in methanization, biomethane, hydrogen, and renewable heat production. SWIFT 2 has already made around twenty investments and aims to be fully deployed by the end of 2023. The fund's investments are geographically diversified across 10 European countries and North America.
Focus on Biomethane and Hydrogen
SWIFT 2 dedicates 60% of its investments to biomethane, a rapidly growing renewable energy source. The share of green hydrogen has also increased significantly in this second vintage, accounting for 30% of investments compared to 10% in SWIFT 1. This shift is driven by a maturing market and a favorable regulatory framework, including the “ReFuelEU” initiative and the European Renewable Energy Directive (RED III).
Regulatory Environment and Future Plans
The favorable regulatory environment in Europe supports the growth of renewable energy investments. Several infrastructure projects in the SWIFT 2 portfolio are scheduled for deployment in 2024, including Portugal’s first hydrogen production plant. The SWIFT 2 team has doubled in size since the first vintage, with further recruitments planned to keep pace with the fund's growth. The launch of SWIFT 3 is expected to be announced soon.
