The Netherlands – Eighty percent of the shares of Bio Energy Coevorden have been acquired by VARO Energy Group (BEC). One of Europe’s biggest producers of biogas is BEC.
The creation of the largest biogas plant in Northern Europe is the primary goal of the transaction. In 2026, the capacity will increase from 300 GWh to 650 GWh.
The parties’ integrated business model for energy generation, supply, and procurement now incorporates BEC’s biogas production expertise. In the strategy that VARO unveiled this summer, the company stated that its goal is to create 1 TWh of biomethane/bio-LNG by 2026. A 65 percent contribution to this will come from the purchase and building of the new biogas plant. By 2026, the company anticipates the acquisition will add 20 to 25 percent to its renewable energy business’ EBITDA.
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The company’s goal is to become the top producer of biogas in Europe, according to the strategy VARO outlined this summer. The company hopes to accomplish this by growing its portfolio through both acquisitions and greenfield projects.
With the purchase and the construction of the new facility, VARO is preparing for the anticipated increase in demand for biomethane and bio-LNG from Europe. By 2030, the business projects that demand for biometh will have tripled. By 2030, the business projects that demand for bio-LNG in Germany would have multiplied tenfold.
The Swiss VARO employs more than 2000 people. Since 2012, VARO has traded in both conventional fuels and innovative biofuels and renewables, selling them in a number of nations, including the Netherlands. According to VARO, Europe is a desirable market for biogas due to the abundance of indigenous raw resources, favorable government policies, and incentive structures. VARO proposes to invest around $3.5 billion during the period 2022-26, two-thirds of which will be in renewable energy.
Mid-February 2023 will mark the commencement of the new relationship.