Infrastructure fund manager Meridiam and biogas producer Evergaz have raised €51m via bank loans to finance their French projects.

The capital will go towards the construction of new projects and the optimisation of the operational performance of their 9 power stations in operation.

“This innovative funding in the anaerobic digestion sector will benefit the French platform of biogas projects jointly held by the two partners, Evergaz and Meridiam,” the companies said in a joint statement.

This transaction also helps refinance the debt of facilities already in operation, while financing improvements and extensions on these sites.

The loan was received from a pool of banks including Arkéa Banque Entreprises et Institutionnels, Banque Populaire Grand Ouest, Caisse d’Epargne et de Prévoyance Loire-Center and Edmond de Rothschild Asset Management.

Alain Planchot, CEO of Evergaz, and Frédéric Flipo, deputy CEO of Evergaz, said: “This new capacity will allow us to optimise the performance of our sites and continue our development, with the firm belief that biogas should be viewed as one of the key components of ecological transition.

“As a solution combining waste treatment with renewable gas or electricity generation, our sector provides local public and private stakeholders with environmental as well as economic services.”

Thierry Déau, CEO of Meridiam, said: “This financing transaction is a perfect example of how Meridiam can work hand in hand with an industrial player to develop projects in the heart of the territories with our farming partners.

”Anaerobic digestion is a solution for the future consistent with energy transition and circular economy issues. With this new investment, we reaffirm that we consider anaerobic digestion a sustainable waste management and carbon footprint reduction solution.”

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