White Summit Capital to buy majority stake in Portuguese biomethane producer

Spain-based energy infrastructure manager White Summit Capital will acquire a majority stake in Portuguese biomethane producer Ferbgas Renewable, it announced on May 20. 

Ferbgas Renewable holds a project pipeline that requires approximately €200mn ($216.75mn) in investments. The company's first two projects are on track to commence operations by 2026. This project pipeline is projected to generate a combined output capacity of approximately 500 GWh, which will contribute to roughly 15% of Portugal's estimated biomethane production by 2030, White Summit Capital said.

White Summit Capital plans to collaborate closely with Ferbgas to accelerate investments, mitigate risks, and foster synergies with other companies in its portfolio. 

“The biomethane sector is expected to play a crucial role in producing competitive domestic green renewable gas and to contribute to EU security of supply. Green molecules are a key pillar of our investment strategy to decarbonise those industrial processes difficult to be electrified," Pablo Pallaas, managing partner at White Summit Capital said.

White Summit Capita did not disclose the financial details of the deal.