ENGIE acquires Vol-V Biomasse and becomes France's leading biomethane producer
The alliance between ENGIE and VOL-V Biomasse will bolster the sector's development across the region.
Vol-V Biomasse was founded in 2009 and is based in Rennes and Rouen. It operates along the entire biomethane value chain: origination, development, construction monitoring and operation. It is currently made up of seven units that are in operation and another three that are in the process of being built.
With this acquisition, ENGIE now has a portfolio of nearly 80 projects, thus supporting its aim of producing 5 TWh/year of biomethane by 2030.
ENGIE has committed to investing €800 million over the next five years and €2 billion by 2030 in developing its biomethane projects with farmers. ENGIE wants to support the sector’s industrialisation to reduce costs and thereby achieve cost parity with natural gas.
“We are extremely proud to welcome VoL-V Biomasse’s employees to our Group”, said Isabelle Kocher, ENGIE’s CEO. “Biomethane is an essential component of France's future energy mix. It is an excellent new sector that will create value and jobs in France”.
Through this acquisition, ENGIE confirms its position as one of France's leading renewable energy companies – more than 70% of the Group's energy mix is made up of green energies (figures published at the end of December 2018):
- Leading producer of solar power with more than 1200 MWc of raw power (target is 2.2 GWc for 2021),
- Leading producer of onshore wind power with 2100 MW of installed capacity (target is 3 GW by 2021)
- Leading producer of alternative hydroelectric power with 3900 MW of installed capacity.