Waga Energy and Meridiam Secure Refinancing of Four Biomethane Units from French Banks Consortium

Waga Energy, the European leader in the production of biomethane from landfill gas, and Meridiam, an investment fund specializing in public infrastructure finance, obtained a non-recourse loan of 10.4 million euros from BNP Paribas and Banque Populaire Grand Ouest to refinance four WAGABOX® biomethane units located in France. The deal underpins Waga Energy’s ability to rely on financial institutions to deploy its innovative WAGABOX® gas-to-biomethane technology.

Image Credit: Waga Energy

The WAGABOX® units are part of two SPV companies, one of which is jointly owned by Meridiam. These two companies signed a non-recourse credit agreement with the banks for 10.4 million euros to repay the loans previously contracted with Waga Energy and Meridiam. The refinancing of these four WAGABOX® units will strengthen Waga Energy's cash flow and enable further financing of new projects in Europe and North America.

The SPV company jointly owned by Waga Energy and Meridiam hosts three biomethane units, one of which is still under construction. The second SPV company hosts one unit and is 100% owned by Waga Energy. When the final unit is commissioned, the projects will generate a total of 95 GWh of biomethane per year and prevent the emission of the equivalent of 17,000 tonnes of CO2 into the atmosphere.

New Projects in Europe and North America

Waga Energy’s proprietary technology is the result of 10 years of research and development. It makes it possible to upgrade landfill gas into grid compliant biomethane, also known as Renewable Natural Gas. Waga Energy currently operates ten WAGABOX® units in France. Ten more projects are also under construction in France, Spain and Canada. The Group plans to have 100 WAGABOX® units in operation worldwide by the end of 2026, to achieve a production capacity of around 4 TWh per year and avoid the emission of 700,000 tonnes of CO2 per year in the atmosphere.

Marie-Amélie Richel, Administrative & Financial Director of Waga Energy, declares: “The success of this refinancing operation demonstrates the finance community’s confidence in our business model and our technology. Our ability to raise bank debt to reduce the cost of project financing is a major factor in the competitiveness of the biomethane we produce”.

Julien Touati, Partner at Meridiam, declares: “This partnership with Waga Energy, which is entering a new phase with the mobilization of leading long-term banking partners, is a perfect illustration of our desire to bring technological solutions to the service of the energy transition. Fostering circular economy models is at the heart of our mission. We have supported Waga Energy for three years now, and we embrace this pioneering role in the production of biomethane and green gas, a sector in which we are now one of the main investors in France".

Source: https://waga-energy.com/

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Waga Energy. (2021, December 03). Waga Energy and Meridiam Secure Refinancing of Four Biomethane Units from French Banks Consortium. AZoCleantech. Retrieved on February 24, 2024 from https://www.azocleantech.com/news.aspx?newsID=30753.

  • MLA

    Waga Energy. "Waga Energy and Meridiam Secure Refinancing of Four Biomethane Units from French Banks Consortium". AZoCleantech. 24 February 2024. <https://www.azocleantech.com/news.aspx?newsID=30753>.

  • Chicago

    Waga Energy. "Waga Energy and Meridiam Secure Refinancing of Four Biomethane Units from French Banks Consortium". AZoCleantech. https://www.azocleantech.com/news.aspx?newsID=30753. (accessed February 24, 2024).

  • Harvard

    Waga Energy. 2021. Waga Energy and Meridiam Secure Refinancing of Four Biomethane Units from French Banks Consortium. AZoCleantech, viewed 24 February 2024, https://www.azocleantech.com/news.aspx?newsID=30753.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.