Launches Verdalia Bioenergy
Aims to invest the amount over four years
Part of efforts to green EU economy

LONDON, Feb 6 Reuters Goldman Sachs Asset Management said on Monday it had launched a biomethane business called Verdalia Bioenergy and aimed to invest more than 1 billion euros 1.08 billion in Europe over the next four years.

Biomethane, a lower carbon alternative to fossilbased natural gas, is produced from the decomposition of organic waste and is seen as a key plank in efforts to lower carbon emissions in the European Union.

Some 80 billion euros of investment is needed to increase the EU production of biogas and biomethane tenfold to reach a target of 370 terawatt hours per year TWh by 2030, accelerating decarbonisation and increasing energy security.

Verdalia Bioenergy will invest in both earlystage biomethane development projects as well as existing assets with the aim of contributing to Europe39;s decarbonisation and energy security agenda, the asset manager said on Monday.

It has already signed an agreement to purchase a portfolio of biomethane projects with a total capacity of around 150 gigawatt hours per year GWhyear in midstage development in Spain.

We believe that biomethane is today one of the most compelling segments in the energy transition for infrastructure investors, said Matteo Botto Poala, a managing director in GSAM39;s infrastructure business.

Biomethane can be used in the same way as natural gas and delivered using the same…