GMT Secures £195M from ING for UK Biomethane Expansion
GMT has obtained a £195 million financing facility from ING to develop its UK biomethane projects, targeting 1TWh capacity by 2030. This non-recourse funding structure enhances project scalability and addresses financing challenges in the biomethane sector.
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GMT has finalized a £195 million ($265 million) project finance facility with ING to enhance its UK biomethane infrastructure. The financing includes an initial £80 million tranche and an accordion facility allowing for an additional £115 million for future projects.
This funding model, secured against project revenues, empowers GMT to expand its portfolio and replicate successful models efficiently. The initial projects aim to produce approximately 280GWh of biomethane annually, utilizing plug flow technology for continuous processing of organic feedstocks. The involvement of equity investors like Swen Capital Partners and Rika Biotech signifies growing confidence in the biomethane sector.
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