Waga Energy, a specialist in biomethane production at landfills, has secured a €23 million non-recourse loan over 15 years from banks CIC and Crédit Mutuel Arkea to refinance three WAGABOX® units already in operation and to finance the construction of three new units.

The loan was taken out by investment company Waga Assets SAS, a wholly owned subsidiary of Waga Energy, to support the funding of three units commissioned in the first half of 2022, including the high-capacity unit installed at the Veolia landfill in Claye-Souilly (Seine-et-Marne).

As part of this financing arrangement, an initial payment of €13 million was made by the banks last July to pay off the intra-group loan granted by Waga Energy to its subsidiary. This amount has been used to strengthen the Group’s cash flow and bolster its capacity to invest in new biomethane projects. The remaining funds will be used to build three more units.

A bank loan is a means of reducing the cost of financing our projects and improving the competitiveness of the biomethane we produce. This is key to encouraging the development of this clean, local and renewable resource, contributing to both the energy transition and the energy independence of Europe” explains Mathieu Lefebvre, Waga Energy CEO.

Four WAGABOX® units were refinanced in late 2021 through a €10.4 million bank loan.