The Wall Street bank launches Verdalia Bioenergy, a new business focused on the development of renewable gas led by former Redexis executives
Goldman Sachs has given a blow to the energy board with a new bet to lead the biogas race. The Wall Street bank has launched Verdalia Bioenergya newly created fund with a firepower of €1 billionfocused on the development of biomethane, led by former directors of the Redexis gas company.
The delay in the expansion of the electric car in Spain and the lack of certainty about the deployment schedule of green hydrogen, has boosted the interest of Goldman Sachs Asset Management, a giant with over $2 trillion in assets under supervision around the world, for biomethane, a renewable fuel that is winning arrests to become the most immediate alternative to natural gas.
The idea of the business bank is to launch its investment plan in Spain, where has already signed its first agreement, subject to relevant regulatory approvals, to acquire a portfolio of biomethane projects under development in Spain, with a total capacity of 150 GWh/year. The objective is to expand to Europe afterwards, completing 1,000 million ammunition in the next 4 years.
Verdalia Bioenerga will invest both in projects in the initial stages of development and in larger operating assets. To lead this new business area, the bank has recruited former Redexis senior managers, Fernando Bergaswho has been appointed executive president of Verdalia, and cristina vila, CEO of Verdalia Spain and President & COO of Verdalia UK. Both have strong track records in the natural gas market.
Matthew BottoGeneral Director of Infrastructures at Goldman Sachs Asset Management, has corroborated the bank’s commitment to this green gas: “We believe that biomethane is one of the most attractive segments of the energy transition for investors and we have high expectations.
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