Heygaz secures financing for European biomethane rollout: advisors

Heygaz Biomethane, a European biomethane platform backed by InfraVia Capital Partners, has closed a first-of-its-kind platform financing with a first tranche, enabling the immediate development of more than 15 biomethane projects across Europe. Heygaz Biomethane was advised by A&O Shearman, while the lenders were advised by Simpson Thacher & Bartlett. Legal due diligence was provided by Eversheds Sutherland, while tax due diligence was provided by EY. Technical due diligence was provided by DNV, commercial due diligence by Oliver Wyman. DC Advisory acted as exclusive financial advisor.

The financing provides Heygaz Biomethane with the operational flexibility to support the development, construction and commissioning of a diversified portfolio of biomethane projects, as well as the expansion and conversion of its existing biogas plants to biomethane.

About Heygaz Biomethane

Heygaz Biomethane is a European renewable energy platform, focused on the development, construction and operation of biogas and biomethane plants. Its activities span the full value chain, from waste collection to commercialization of biomethane volumes in European markets. Headquartered in Madrid, the company has presence in five countries (Spain, Portugal, Ireland, Norway and Greece). It operates nine plants and has an additional four under construction. The company is building a scaled portfolio of assets in Europe. This transaction represents a key milestone in the execution of Heygaz’s strategy, paving the way towards a target of 1.5 TWh of biomethane capacity by 2030.

EY Abogados’ team involved in this operation was composed of Manuel Paz (partner, pictured), Laura Martínez Martín (senior manager), Rocio Meca (manager), and Delia Durand (junior).