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New Energy World
New Energy World embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low carbon technologies.
Private sector to invest €25bn in European biomethane industry
26/6/2024
The European biomethane sector is forecast for €25bn in private investments by 2030, according to the latest analysis from the European Biogas Association (EBA). Meanwhile, newly certified producer data suggests that Europe’s renewable ethanol sector set a new record for greenhouse gas (GHG) emissions reduction in 2023.
The €25bn of private funding in Europe’s biomethane sector represents a 30% increase compared to last year’s estimates, with the second edition of the EBA’s Biomethane Investments Outlook forecasting an €2.1bn of extra investments in the pipeline yet to be allocated. The significant rise in private investment is an indication that biomethane is gaining momentum among users and that the industry is fast mobilising to speed up the decarbonisation of many sectors of the European economy, suggests the EBA.
The projected investments by 2030 will result in the installation of 950 new biomethane plants across Europe, according to the Outlook, adding to the 1,300 facilities already operational. This will add 6.3bn m3 of biomethane capacity annually to the Continent, which could contribute to avoiding nearly 29mn t/y of CO2 emissions while providing renewable energy to five million European households year-round and producing 830,000 t/y of fertiliser.
Investments will be mostly located in Denmark (€3.6bn), Poland (€3.4bn) and Italy (€2.4bn), according to the analysis. In the case of Denmark, the share of biomethane in the gas grid is close to 40% and there are plans to increase this to substitute 100% of the country’s gas demand before 2030.
‘Two years following the launch of the REPowerEU plan, the industry is swiftly mobilising to achieve the 35bn m3 biomethane production target by 2030,’ says the EBA. ‘Investments are crucial to fully unlock biomethane production potential and streamlining the development of new plants across Europe.’
The EBA also says that aligning the EU Taxonomy (the definitions and rules that determine which economic activities are deemed environmentally sustainable) with the REPowerEU objectives for biomethane will direct further capital towards the sector. ‘To secure the announced investments, it is essential to implement aligned policies, maintain stable regulatory frameworks and facilitate long-term end-use of biomethane and its co-products,’ it concludes.
EU renewable ethanol sets new record for GHG reduction
Meanwhile, the production and use of renewable ethanol from European Union (EU) producers reduced GHG emissions by an average of 79.1% compared to fossil fuels in 2023, according to newly certified data from auditing firm Copartner. It is the 12th consecutive year in which EU renewable ethanol increased its GHG-reduction score. So says ePURE, the European renewable ethanol association that includes 20 producing companies with around 50 refineries across the EU and UK, accounting for about 85% of EU renewable ethanol production.
ePURE also reports that its members produced some 6.5mn tonnes of commercial food and feed co-products, and captured some 1.5mn tonnes of biogenic CO2 in 2023.
‘The strategic value of European ethanol biorefineries has never been clearer,’ comments David Carpintero, Director General of ePURE. ‘By producing food, feed and fuel for Europe, the ethanol industry contributes to key EU strategic goals, including climate change reduction, energy independence, food security and industrial and agricultural autonomy.’
