South West green energy firm acquired in £64 deal
An anaerobic digestion company based in Devon has been acquired by renewable energy firm ENGIE in £64m deal.
The deal will see Ixora Energy’s three sites in the South West added to ENGIE’s growing portfolio.
Ixora Energy operates three plants in the South West: Gorst Energy in Clyst St Mary, Condate Biogas in South Molton and Sustainable Energy Generation in Somerset.
The company processes energy crops, agricultural waste and animal manures to produce biogas, which is used to generate renewable electricity.
The energy is then added to the gas and electricity grid, serving thousands of homes local to each plant.
ENGIE, which already has a renewable gas production standing in France said the acquisition of Ixora aims to strengthen its UK presence in green energy market.
Anne-Laure Chassanite of ENGIE said: “The acquisition of Ixora Ltd demonstrates ENGIE’s belief in a diversified energy mix for a reliable and affordable energy transition. It also shows our commitment to help shape the UK and Europe’s path to decarbonisation.
“With our substantial investments and strategic focus on renewable gases, ENGIE is poised to support the UK’s energy transition goals. We have a long-term vision to cultivate innovation and progress, while strongly supporting local communities.
“Our aim is to act as a champion of zero carbon energies that have a positive impact on people and the planet. We are proud to be working alongside the team at Ixora in achieving this bright future.”
Darren Stockley, managing director of Ixora, added: “The Ixora team are excited to join ENGIE and to be part of their ambitions for the UK’s green energy future. This marks a significant opportunity, and we believe that the combined expertise and experience of the companies will create a powerful synergy. We look forward to contributing to ENGIE’s commitment to reach net zero carbon by 2045.“