Energy company, VARO Energy has announced the acquisition of 80% of the shares in one of the largest biogas manufacturers in Europe, Bio Energy Coevorden BV (BEC) in the Netherlands.
The transaction accelerates the ONE VARO Transformation strategy launched in July 2022. VARO recognises that a range of solutions and products are needed to help emitters to decarbonise and to protect Europe’s energy security. As part of the strategy, the company committed to becoming a leading producer of biogas in Europe, building its portfolio through both acquisition and greenfield developments.
Dev Sanyal, VARO CEO, says: ‘Last year we set out our ambitious ONE VARO Transformation strategy to be the partner of choice for customers in the energy transition and to be net zero by 2040. Today’s announcement is a significant step towards accelerating our strategy by building a leading position in biogas in Europe. The combination of this platform along with VARO’s integrated business model will not only contribute to our strategic growth but will also be highly value accretive to VARO. Largescale biogas facilities have an important role in accelerating Europe’s energy…Growth in biogas will further support Europe’s energy security by diversifying supply.’
‘This transaction brings VARO closer to realising its target of 1 TWh/y of biogas production by 2026. It creates the largest biogas manufacturing facility in Northern Europe…I am looking forward to working with our new partners to deliver on the expansion of the current platform plant and continue to grow VARO’s biogas business,’ adds Christian Cuenot, VARO vice president of biogas.
