ING Italia supports VORN Bioenergy’s growth strategy in Italy with a project financing for their first Italian asset

Regensburg / Milano. VORN Bioenergy, a European leader in the development and operation of biomethane plants with over 40 plants built throughout Europe, announces the financing of its first project in Italy, located in the municipality of Ferrara. The project represents a strategic step in the company's ambitious expansion plan in the markets of Italy, Spain and Poland, both through new developments (greenfield) and through the acquisition and modernisation of existing plants (brownfield).

The project is financed through a "project financing" type structure, which can be increased through "accordion facilities". This flexible facility allows VORN to efficiently raise further financial support for additional Italian projects in its pipeline, while keeping open the possibility of involving new lenders. The total initial financing package is arranged by ING Italy, which also acts as Hedging Bank and Sustainability Coordinator.

The Ferrara plant, designed to produce 8,5 million Nm³ of biomethane per year – equivalent to the thermal needs of about 7,000 households – is being built with cutting-edge technologies developed internally by VORN, thus confirming its leadership in innovation and technical design of biomethane plants.

A distinctive element of the project is the integration of the landscape. The projects is being constructed as earth fermenter utilizing the soil of the plant’s premises only, ensuring minimal visual impact and harmony with the surrounding environment. It will use 60 to 70 % livestock manure and 30 to 40 % renewable raw materials and agricultural by-products. Furthermore, the construction is being undertaken with a series of local partners, bringing further investment into the region.

In full operation the plant creates approximately 10 direct jobs in operations and back office, around 20 direct and indirect jobs with service providers in logistics, maintenance and servicing, laboratories, and assessors, and, not least, employment opportunities at the roughly 80 agricultural businesses supplying the feedstock.

Jörg Lennertz, CEO of VORN Bioenergy, said: "The biomethane plant in Ferrara marks an important milestone in VORN’s growth path in Europe as it is our ambition to leverage the potential of biomethane in order to drive the energy change towards a greener and sustainable future. With the support of ING Italy, we are making a big step forward on this way."

Andrea Diamanti, CEO and Head of Wholesale Banking of ING Italia, commented: "This financing confirms ING's leadership role in supporting the energy transition in Italy. We are proud to accompany VORN Bioenergy in a project that combines innovation, sustainability and development of the territory. The transaction is fully in line with our 'Growing the Difference' strategy, which places sustainability at the heart of all our activities.”

VORN will operate the plant directly with its own resources and is currently working on further projects in Italy, supported by the PNRR and the Biomethane Decree.

Partners involved in the project include Ashurst (legal advisor to financiers), Linklaters (legal advisor to VORN), KPMG Italy (tax and accounting advisor), Ramboll (technical advisor) and AMP Energy (financial advisor to VORN).

The VORN Bioenergy Group is an innovative developer, deliverer and operator of biomethane plants in Europe. The company, which has been independent since 2022, can look back on more than 20 years of project experience and has realised more than 40 bioenergy projects in Europe. The company is based in Regensburg, Germany, and its operational focus is on Germany, Italy, Spain and Poland. VORN Bioenergy pursues the consistent goal of operating emission-free and producing two TWh of biomethane per year by 2030.