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Downing has exited its anaerobic digestion business, Ixora Energy Ltd (Ixora), to ENGIE - a multinational low-carbon energy and services company. ENGIE has acquired Ixora for £64.8 million.
Established by Downing in 2017, Ixora operates four anaerobic digestion plants across the Southwest, including three large gas-to-grid plants. Ixora supplies green gas and electricity to local homes, businesses and the grid. The plants are predominately farm-based and use a range of agricultural feedstocks which include farm waste, manure and sustainably grown crops.
Tom Williams, Partner and Head of Energy & Infrastructure at Downing, commented: “This transaction completes our exit from the anaerobic digestion sector and brings to a close our six-year relationship with Ixora. We have enjoyed working with everyone at Ixora and look forward to seeing them go from strength to strength in the future under ENGIE’s stewardship.”
Cécile Prévieu, Executive Vice President in charge of Infrastructure at ENGIE, said: “This acquisition resonates deeply with our commitment to a diversified energy mix where biomethane stands as a pivotal force in Europe's decarbonization while ensuring a resilient and affordable energy transition. In this way, ENGIE is committed to contributed to the UK's goals for renewable energy and decarbonization.”
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