RINGAS
IS FOUNDED
Ringas is founded and acquires 6 biogas plants to be converted to biomethane
(Milan / Paris / Trieste – 12.05.2024)
SWEN Impact Fund for Transition 2 and BiogaServizi announce the establishment of Ringas (www.ringas.it) and the acquisition of 6 biogas plants to be converted to biomethane.
Ringas combines the technical and financial expertise of its partners to become a new point of reference in the Italian energy transition through the production of biomethane from by-products of vegetal and animal origin.
By converting biogas plants into biomethane and building new ones, Ringas will produce renewable gas, thus reducing the release of greenhouse gases into the atmosphere by 80%.
The acquisitions
Of the 6 plants acquired, 5 are located in the Province of Cremona and 1 in the Province of Alessandria. Their total biogas electricity production capacity is approximately 5.625MW. The plants will be converted to the production of 1,800scm/h of biomethane, equivalent to the annual domestic consumption of a town of 60,000 inhabitants.
During the due diligence phase, Ringas availed itself, for the legal aspects, of the assistance of DLA Piper and Gitti & Partners for the acquisition of the plants in the Cremona and Alessandria areas respectively. For the technical aspects, Ringas availed itself of the support of RINA and BIT for the acquisition of the plants in the Cremona and Alessandria areas respectively.
Ringas' partners
Managed by SWEN Capital Partners, SWEN Impact Fund for Transition 2 (SWIFT 2) is the largest European impact fund entirely dedicated to investments in renewable gas infrastructure. SWIFT 2 provides Ringas with the necessary capital for the construction of at least 10 biomethane plants.
BiogaServizi is the main Italian operator of biogas plants. BiogaServizi offers management services to approximately 20 biogas plants in Italy, of which 6 are managed with full-service contracts. BiogaServizi makes its skills available to Ringas in operational management, in obtaining the necessary authorizations and in planning and controlling the construction of the plants.
"We are delighted of Ringas’ set up in Italy alongside BiogaServizi. The acquisition of 6 biogas plants in the Province of Cremona marks the start of an ambitious cooperation to develop a portfolio of biomethane plants. We have found in BiogaServizi a complementary partner, who will bring Ringas its technical expertise in biomethane projects, both in development and operation, as well as its knowledge of the Italian biomethane industry.” says Olivier Aubert, Managing Director of the SWIFT strategy at SWEN Capital Partners.
“The creation of Ringas comes from afar: we have been operating in the sector for ten years now and never before have we seen the potential of the biomethane market. We chose to partner with SWEN Capital Partners because it demonstrates a deep understanding of the Italian market as well as passion and commitment for the development of biomethane in Italy and Europe" comments Massimo Vecchiet, legal representative of BiogaServizi.
Ringas S.p.A., via Sardegna 19, 20146 - Milan, Italy
Company n. 13202710961, Numero REA MI - 2708633
PEC: ringasspa@pecimprese.it