Repsol Announces Shareholding In Genia Bioenergy - Quick Facts

(RTTNews) - Repsol announced an agreement to take a 40% shareholding in Genia Bioenergy, a company specializing in biomethane. Genia Bioenergy is the only Spanish company that integrates the entire biogas and biomethane value chain. The agreement includes 19 of its biomethane plants, which are under development. Also, there are 11 other projects in an early stage of development. Repsol will purchase all the gas produced by these projects. Biomethane is a renewable alternative to natural gas that originates from organic matter, such as agricultural and livestock waste.

Repsol said the alliance with Genia Bioenergy is part of its 2024-2027 strategy, which includes the transformation of industrial complexes into multi-energy hubs capable of manufacturing products with a low carbon footprint.