Solarig to Invest Over $350 Million in Biomethane Plants in Italy
MADRID (Reuters) -Spanish renewable developer Solarig will invest more than 300 million euros ($351.51 million) through the end of the decade to build and operate more than 20 biomethane plants in Italy, it said on Wednesday.
The investment will be deployed through the company's biomethane subsidiary Biorig, which is also developing 20 plants in Spain.
Biomethane can be produced from organic waste like food scraps or damaged crops.
The portfolio in Italy will reach production of 90 million cubic meters a year, or almost 1 terawatt hour every year, the company said, enough to cover consumption for 360,000 Italian households.
"Our goal is to become one of the leading biomethane producers in Europe, and to make this business one of Solarig's strategic pillars in the coming years, alongside the development of renewable energy projects," Biorig Director General Manuel Alonso said.
($1 = 0.8535 euros)
(Reporting by Pietro Lombardi, editing by Aislinn Laing)
