Bankinter's Ecualia Capital Buys Italian Biogas Plants

Ecualia Capital, a strategic investment vehicle managed by the integrated Franco-Spanish financial powerhouse Bankinter, has finalized the acquisition of BG Holding srl. This move signals a significant expansion for Bankinter's alternative investment platform, which recently consolidated operations with Plenium Partners and integrated Access Capital Partners. The acquired entity, BG Holding, controls two key Italian biogas facilities, Bioenergie Società Agricola and ER Società Agricola, previously held by Green Arrow Capital (80%) and IRON RE (20%).

The two biogas plants, Bioenergie Italia and ER Pantanelle, located in Aprilia, are currently undergoing a crucial transition to biometano production. This strategic conversion is expected to unlock substantial renewable energy output. Upon completion, anticipated between July and September 2026, the facilities will process an estimated 120,000 tons annually of livestock and agro-industrial byproducts. This feedstock will be transformed into approximately 90 GWh of biomethane per year, enough to power roughly 6,000 homes and displace an estimated 18,000 tons of CO₂ emissions each year.

This transaction represents a strategic divestment for Green Arrow Capital and IRON RE, highlighting their success in developing and optimizing renewable energy infrastructure. Daniele Camponeschi, Founder & Group CIO of Green Arrow Capital, emphasized the successful transformation of these facilities into strategic biomethane assets, noting the acquisition by a prominent international investor as validation of the project's value and the Italian sector's appeal. Luciano Garofano, Sole Administrator of IRON RE, echoed this sentiment, crediting the collaboration with Green Arrow Capital and their sector expertise for the deal's successful execution.

The Italian biomethane market is experiencing robust growth, driven by increasing demand for sustainable energy solutions and supportive regulatory frameworks, including incentivizing tariffs secured from the GSE under its third competitive tender. Biomethane, derived from organic waste streams, plays a vital role in the circular economy, reducing landfill reliance and mitigating environmental impacts on soil and water. This acquisition aligns with broader European energy transition goals, aiming to diversify energy sources and decrease dependence on fossil fuels.

Ecualia Capital, backed by Bankinter Investment and Plenium Partners, has expressed its commitment to further expanding its presence in the Italian biomethane sector. The platform is actively seeking additional investment opportunities beyond the current portfolio, underscoring a strong conviction in the long-term potential of renewable gas infrastructure in Italy. The operational and financial performance of the acquired entities in 2025, with ER Società Agricola reporting €1.9 million in revenue and Bioenergie Società Agricola achieving positive EBITDA, provides a solid foundation for future growth.

This strategic acquisition by Ecualia Capital not only strengthens its position in the renewable energy market but also contributes to Italy's decarbonization objectives. The development of such projects fosters economic activity in rural areas through direct and indirect job creation, while offering farmers and livestock producers new revenue streams from their byproducts. The integration of these two facilities into Ecualia Capital's portfolio is a testament to the increasing institutional appetite for sustainable infrastructure investments.