Shell buys biogas producer Nature Energy for $2 billion (NYSE:SHEL)
Cover (NYSE:SHELF) said second it agree to get Danish biogas producer Nature Energy Biogas from hedge fund Davidson Kempner Capital Management for nearly $2 billion.
Cover (SHELF) says it is acquiring Europe’s largest producer renewable natural gas, will strengthen its ability to work with its longstanding customer base across multiple sectors to accelerate the transition to net zero emissions.
Nature Energy has 14 active plants producing ~6.5 million Btu/year of gas, as well as a pipeline of ~30 new plant projects in Europe and North America. can double the output at the end of this decade.
“We will use this acquisition to build an integrated RNG value chain on a global scale, at a time when energy transition policies and customer preferences are signaling demand for growth. strong in the coming years,” Shell (SHELF) speak.
The agreement that Shell (SHELF) is expected to close in Q1 next year, following a similar move by BP to buy Archaea Energy for ~$4.1 billion including debt. last month.