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Ferbgas’ project pipeline to generate 500 GWh output capacity, roughly 15% of Portugal’s estimated biomethane production by 2030

Lisbon, Portugal, 20 May 2024 – Energy transition infrastructure manager White Summit Capital has agreed to buy a majority stake in Ferbgas Renewable, a leading independent biomethane producer in Portugal dedicated to developing, building and operating biomethane plants.

Ferbgas holds a project pipeline requiring around €200 million of investment, with its first two projects on track to start operating by 2026. This project pipeline is expected to generate a combined output capacity of approximately 500 GWh, accounting for roughly 15% of Portugal’s estimated biomethane production by 2030. This would equate to lowering the country’s emissions by c.100k tons of CO2-eq through a reduction of natural gas consumption.

Rafael Ferrari, CEO of Ferbgas, said: “We are excited to join forces with White Summit Capital in the development of cutting-edge biomethane projects in Portugal. With this partnership, we are confident in our ability to expand our portfolio of projects and drive the sustainable transformation of the Portuguese energy market. We look forward to leveraging our combined expertise to accelerate the development of innovative and impactful biomethane projects.”

The transaction makes White Summit Capital a key independent player in Portugal’s emerging biomethane industry. White Summit Capital will work with Ferbgas and its highly experienced management team to accelerate investments and mitigate risks, as well as to foster collaboration opportunities with other portfolio companies.

Pablo Pallás, Managing Partner at White Summit Capital said: “The biomethane sector is expected to play a crucial role in producing competitive domestic green renewable gas and to contribute to EU security of supply. Green molecules are a key pillar of our investment strategy to decarbonise those industrial processes difficult to be electrified. Portugal offers a great opportunity for sustained growth, and Ferbgas is the ideal partner given its track record of successfully identifying and originating promising projects. White Summit Capital and Ferbgas, leveraging on their extensive experience, can create a strong foundation for long-term success.”

About White Summit Capital

White Summit Capital is a privately owned, long-term investor specialised in sustainable energy infrastructure with over €2.1 billion of deployed capital through investments in Europe and North America.

WSC manages capital on behalf of long-term investors including pension funds, sovereign wealth funds, and other institutional investors. Decarbonisation of industries is a key pillar of White Summit Capital’s investment strategy and a focus of its new Article 9 White Summit Capital Decarbonisation Infrastructure Fund.

WSC has made investments across key segments of the energy transition, including renewables integration, sustainable transportation, and the decarbonisation of industries. WSC is registered with Spain’s CNMV as an Alternative Investment Fund Manager.

About Ferbgas

Ferbgas is a Portuguese independent biomethane producer founded in 2019, covering the entire value proposition for biomethane production cycle, from origination to development, construction and operation & maintenance.