The plants will likely be constructed in Andalusia, Catalonia and Galicia.
The biomethane feedstock will come from agricultural and livestock waste which will produce 4,000,000 MWh (4 TWh) by 2030.
Moeve predicted that the plants will prevent the emission of 728,000 tons of CO2 per year, similar to planting 48.5 million trees.
The investment plan is in partnership with Kira Ventures and PreZero, the latter of which has signed an agreement with InproEner to develop the first five biomethane plants – set to be operational between 2028 and 2029.
Each of the five facilities is set to produce around 50 GWh per year, adding up to 250 GWh of biomethane annually. This partnership includes a collaboration with EnviTec Biogas, which has built more than 650 biogas plants internationally.
Matteo Vaglio, Moeve’s biofuels manager highlighted: “Biomethane is a key commitment for Moeve to decarbonize our activity and that of our clients, as it can be immediately used in existing industries and transportation networks.
“This aspect facilitates its integration into the current energy market while promoting economic and social development in rural areas. Agreements with partners, such as the one reached with InProEner, are essential to accelerate our goals in this sector.”
The company said that the investment forms part of its plans to promote the circular economy and its new “Positive Motion” strategy. The company rebranded from Cepsa to Moeve last year, which it said demonstrates its move towards being a “low-carbon business” and a shift towards “sustainable energies”.
The company has a target to reduce Scope 1 and 2 CO2 emissions by 55% compared to 2019. It also aims to be carbon neutral by 2050.
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