Biomethane platform Verdalia Bioenergy announced that it has closed €671 million (USD$780 million) in a new corporate financing deal, with proceeds aimed at supporting its development of a portfolio of projects across Spain and Italy.

Biomethane, or renewable natural gas (RNG), is expected to play a critical role in the transition to cleaner energy sources, particularly for sectors in which energy solutions such as wind or solar are less practical. Biomethane is produced from organic waste, such as agricultural, industrial, and household wastes, and is chemically identical to fossil-based natural gas, enabling it to support the decarbonization of hard-to-abate sectors such as road transport and heavy industry, without needing to replace existing transmission and distribution infrastructure.

Launched in 2023 by Goldman Sachs Infrastructure Funds and Co-CEOs Fernando Bergasa and Cristina Avila, Verdalia was established with the aim of creating a leading biomethane operator, focused on developing, acquiring, building and operating biomethane plants, beginning in Spain, and expanding across Europe.

According to Verdalia, the transaction marks one of the largest financings in the European biomethane sector.

Matteo Botto Poala, Managing Director in Infrastructure at Goldman Sachs Alternatives and board member of Verdalia, said:

“We are proud to support Verdalia in this landmark transaction. This financing validates the ability to attract infrastructure capital into the biomethane sector and highlights the scalability and resilience of biomethane as a core pillar of Europe’s energy transition.”

The new financing will support Verdalia’s plan to build and operate a portfolio of projects across Spain and Italy with an aggregate production capacity in excess of 3 TWh per year, equivalent to the annual consumption of nearly one million households. In Italy, the portfolio currently includes seven plants in operation and six under construction and expected to start injecting biomethane into the grid in early 2026, and in Spain the company is currently building its first plant and plans to begin construction of two additional facilities before the end of this year. Overall, the total capital to be deployed in the portfolio will exceed €1 billion.

Verdalia said it will pursue both greenfield and brownfield growth, with financing covering construction of biomethane plants, as well as acquisitions.

Fernando Bergasa, Co-founder, Chairman and CEO of Verdalia Bioenergy, said:

“This milestone constitutes a big leap forward for Verdalia and for the biomethane industry in Europe. It demonstrates the trust of top-tier financial institutions in our strategy and underlines the role that renewable natural gas will play in achieving decarbonisation targets and energy independence.”