Mapfre launches the first biomethane investment fund in Europe

The objective is to invest in the construction and development of up to 25 production plants of this energy in five years in Spain

MADRID, 19 Jun. (EUROPA PRESS) -

Mapfre, together with its partner Abante and IAM Carbonzero have launched the 'Mapfre Energías Renovables II, FCR' fund, the first investment fund in Europe to invest in biomethane, a 100% green biofuel obtained from animal waste and vegetable and that can be directly injected into the natural gas network, generate electricity through motors and use as fuel.

The fund, to which other institutional investors and private banking clients will enter, intends to raise up to one hundred million euros in a first phase to allocate them to the construction and development of between 20 and 25 plants in Spain over a period of five years. , which aims to generate 70 permanent positions and 240 indirect jobs.

This means multiplying by five the currently installed capacity of this type of energy in Spanish territory, the company reported in a statement.

"We are very proud to present this unique and very profitable project to contribute from the private sector, and in collaboration with the public administration, to the increasingly necessary energy independence from abroad", said the general director of investments of Mapfre, José Luis Jimenez.

This project aims to work on several axes, such as the decarbonization of the planet, the energy crisis and the high dependence on the import of natural gas from abroad, but it also contemplates investment in the rural environment through agriculture and livestock.

"For Abante it is very interesting to collaborate with Mapfre and IAM Carbonzero on a project that, in addition to being very interesting for investors, generates a very positive impact on society", said the partner and general director of Abante Asesores Gestión, Joaquín Casasús .

This is Mapfre's second renewable energy project within its commitment to alternative assets and, in particular, to ESG investments. Two years ago it signed an alliance with Iberdrola to invest in wind and photovoltaic plants in Spain, which last month reached the next level with the addition of 150 new megawatts (MW), bringing the joint venture to 445 MW.