Biomethane platform Verdalia Bioenergy announced that it has closed USD$780 million in a new corporate financing deal, with proceeds aimed at supporting its development of a portfolio of projects across Spain and Italy.

Biomethane, or renewable natural gas (RNG), is expected to play a critical role in the transition to cleaner energy sources, particularly for sectors in which energy solutions such as wind or solar are less practical. Biomethane is produced from organic waste, such as agricultural, industrial, and household wastes, and is chemically identical to fossil-based natural gas, enabling it to support the decarbonization of hard-to-abate sectors such as road transport and heavy industry, without needing to replace existing transmission and distribution infrastructure.

The transaction marks one of the largest financings in the European biomethane sector.

The new financing will support Verdalia’s plan to build and operate a portfolio of projects across Spain and Italy with an aggregate production capacity in excess of 3 TWh per year, equivalent to the annual consumption of nearly one million households. In Italy, the portfolio currently includes seven plants in operation and six under construction and expected to start injecting biomethane into the grid in early 2026, and in Spain the company is currently building its first plant and plans to begin construction of two additional facilities before the end of this year. Overall, the total capital to be deployed in the portfolio will exceed €1 billion.