Mar. 17 at 2:13 PM
$ANRGF
ReadThru – Anaergia continues to develop this relationship gaining a larger share of the development buidout. QGM has stated plans to build a portfolio of 20+ similar projects – potential upside is large.
C
$85MLN/3 plants =
$28MLN CAD/facility
20 *
$28MLN/facility =
$560MLN CAD potential
QGM - Quercus Real Assets is a UK-based impact investment manager specializing in energy transition, renewable energy, real estate, and infrastructure investments. Founded in 2010, the firm focuses on utility-scale renewable energy projects across Europe, aiming to deliver sustainable income and capital returns while operating on a carbon-positive basis. The company is led by co-founder and chairman Diego Biasi, with a team of experts handling investments in the UK, EU, and globally. Quercus and Elionia secure €76m financing for biomethane plants in northern Italy news item image Quercus Real Assets, a European renewable energy specialist, and Elionia, the renewable investment arm of a European family office with roots in the shipping sector, have completed financing for three greenfield biomethane plants in northern Italy. The funding, worth €76 million, was arranged through their joint venture QGM with the backing of a banking consortium comprising BNL BNP Paribas, Banco BPM and Mediocredito Centrale. SACE, the state-controlled insurance and financial group, will guarantee half of the facility. The three plants form the first stage of a planned portfolio of over 20 similar projects in the region. Construction is due to be completed within ten months, with the facilities set to operate using agricultural by-products and animal manure. Quercus co-founder and chief executive Diego Biasi and Elionia co-founder and chief executive Danilo Fumarola said the initiative builds on experience from 2013, when Quercus developed an anaerobic digestion facility in East London in partnership with the UK’s Green Investment Bank. They expressed confidence that the biomethane sector will grow alongside traditional renewable electricity generation, combining “electrons and biofuel molecules” in the future energy mix.
Additional upcoming catalysts – CPUC vote on SW Gas contract on March 19th. This has been on the agenda from January but I believe will finally get approved now that the new president of the CPUC ( John Reynolds – appointed by Gavin Newsome in February 2026) has had a chance to settle in. This is a major development in California and will be the backbone of new investments – Anaergia is expected to be a major beneficiary.
Draft Resolution becomes effective on the March19th, with following 30 days for SW Gas to meet the conditions of revised contract , See resolution below (redacted areas are by CPUC to preserve contract confidentiality):
"Southwest Gas Corporation’s proposed contract with Anew Climate is approved subject to the following modifications detailed in discussion section of this decision:
a. A contract price cap of ••/MMBtu is established.
b. A maximum procurement volume of ••% of the maximum is established for the first year of the contract. A maximum procurement volume of ••% of the maximum is established for the second year of the contract.
c.
No biomethane can be procured as part of the Renewable Gas Standard beyond the approved maximum contract volume.
d. A reasonable minimum delivery volume of ••% f the maximum delivery volume averaged over •••••• must be established.
e.
Biomethane below a certain carbon intensity threshold shall be priced successively lower.
2.
Advice Letter 1338-G (Southwest Gas Corporation) is approved with the conditions set forth herein.
3.
Southwest Gas Corporation shall file a Tier 2 Advice Letter with the modified Anew Climate contract within 30 days of the effective date of this resolution.
Acceleration of European buildout – Anaergia has the potential to be the dominant developer in Spain.
Iran crisis opens door to urgent biomethane development: "It's a matter of national security"
Iran crisis opens door to urgent biomethane development: "It's a matter of national security"
Spain has the potential to cover half of its gas demand with indigenous sources in the short and medium term by developing a biomethane network that runs parallel to that of neighbouring countries such as France. "It is no longer a question of climate change, it is a question of economic and energy security and the defence of our model of life and values," warned Gonzalo Escribano, director of the Energy and Climate programme at the Elcano Royal Institute, during a conference organised today in Madrid by Enerclub focused on the role of gas infrastructures in safety and competitiveness.
"There are 1,700 plants in the EU, 25 in Spain. In Denmark they have more than 30% of the gas supply covered by biomethane and biogas and are committed to reaching 100% by 2035. In 2023, we identified that Spain was among the five countries with the highest growth potential, with a capacity to reach 4 bmc of biomethane and cover 13% of the country's gas demand," explained Paula Ceballos, analyst at the European Commission in Spain.
