ENI: buys Italy's FRI-EL Biogas
(CercleFinance.com) - Ecofuel, Eni's subsidiary that manages Eni's investments in the circular economy, has reached an agreement with and FRI-EL Greenpower for Eni to acquire FRI-EL Biogas Holding Company, the Italian biogas production specialist.
FRI-EL Biogas Holding owns 21 biogas power plants and an OFMSW - organic fraction of solid waste - processing plant, which Eni intends to convert to produce 50 million cubic metres of biomethane per year for the grid.
The gas will be distributed via Eni's service stations - both in the form of compressed natural gas and liquefied natural gas it said.
The agreement remains subject to certain conditions precedent, including the authorisation of the relevant antitrust authorities.
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FRI-EL Biogas Holding owns 21 biogas power plants and an OFMSW - organic fraction of solid waste - processing plant, which Eni intends to convert to produce 50 million cubic metres of biomethane per year for the grid.
The gas will be distributed via Eni's service stations - both in the form of compressed natural gas and liquefied natural gas it said.
The agreement remains subject to certain conditions precedent, including the authorisation of the relevant antitrust authorities.
Copyright (c) 2021 CercleFinance.com. All rights reserved.